News Post

Blue Tokai negotiates $40-mn raise at $160-mn valuation

The Arc Web

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Blue Tokai, a coffee chain, is set to raise $40 million in funding, with consumer fund 12 Flags Group making its first investment. The investment will primarily be a secondary transaction, with existing investors likely to increase their investments as well. Blue Tokai is currently discussing a valuation of around $160 million and may attract another new investor. The specialty coffee sector is experiencing significant interest as consumers seek premium offerings. Blue Tokai and Third Wave, two major players in the market, operate around 100 stores each. In the fiscal year 2022-2023, Blue Tokai generated revenues of Rs 129 crore, while Starbucks India reported sales of Rs 1,081 crore.

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