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Blue Tokai raises $25 Mn in a bridge funding round from existing investors

EntrackrEntrackr · 3d ago
Blue Tokai raises $25 Mn in a bridge funding round from existing investors
Medial

Blue Tokai raises $25 Mn in a bridge funding round from existing investors Speciality coffee chain Blue Tokai Coffee Roasters has raised $25 million (around Rs 220 crore) in a bridge funding round from existing investors A91 Partners, Anicut, Verlinvest, and 12 Flags. The proceeds will be used to scale retail operations, strengthen back-end infrastructure, and expand into international markets such as Dubai and Japan. In India, the funds will also support new store launches and the expansion of its roasteries and bakery facilities in Bengaluru and Gurugram. Blue Tokai currently operates cafes across multiple Indian cities and has positioned itself as a premium coffee brand. The founders said they are revising their growth targets upwards. Earlier, the plan was to achieve Rs 1,000 crore in revenue and Rs 100 crore EBITDA by 2027. Now, the company aims for over 800 stores and Rs 2,000 crore revenue within the next four years. Blue Tokai has raised over $105 million to date, including its $30 million Series C round led by Verlinvest in August last year. According to the startup data intelligence platform TheKredible, A91 Partners was the largest external stakeholder with 22.77% followed by Verlinvest. As per TheKredible, Blue Tokai Coffee Roasters achieved over five-fold growth in the past four fiscal years. The brand's revenue grew from Rs 41 crore in FY21 to Rs 75 crore in FY22, Rs 127 crore in FY23, and Rs 216 crore in FY24. It competes with Rage Coffee, Third Wave Coffee Roasters, Slay Coffee, Sleepy Owl, and Seven Beans Co., among others.

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Blue Tokai raises $35 Mn in Series C led by Verlinvest

EntrackrEntrackr · 1y ago
Blue Tokai raises $35 Mn in Series C led by Verlinvest
Medial

Global investment platform Verlinvest has led a $35 million round in specialty coffee and bakery brand Blue Tokai. Existing investors Anicut Capital and A91 Partners also joined the Series C funding. This strategic partnership will enable Blue Tokai to deepen its presence in existing metro markets and expand into new tier I and tier II cities in India over the next three years, the company said in a press release. In January 2023, Blue Tokai raised $30 million in its Series B funding round led by A91 Partners. Led by co-founders Matt Chitharanjan, Namrata Asthana, and Shivam Shahi, Blue Tokai has partnered with several retail outlets, luxury hotels, restaurants, top corporates, and co-working spaces, among others. In the past 12 months, the company claims to have more than doubled its store count to 130 outlets. The funds will also be used to expand to over 350 locations in the next 30-36 months. Blue Tokai’s revenue from operations surged 72% to Rs 127.45 crore in FY23 from Rs 74 crore in FY22. According to startup data intelligence platform TheKredible, its losses also increased nearly 3.5-fold to Rs 43 crore in FY23, compared to Rs 12.3 crore in FY22. The company is yet to file its annual report for FY24. It competes with Rage Coffee, Third Wave Coffee Roasters, Slay Coffee, Sleepy Owl, and Seven Beans Co., among others. Among venture-funded startups, Third Wave Coffee was the largest brand in terms of revenue in FY23. However, the firm also experienced layoffs of more than 100 employees shortly after a $35 million fundraise in September last year. In March this year, Third Wave Coffee’s CEO Sushant Goel was replaced by Rajat Luthra from KFC. Earlier this week, GRM Overseas acquired a 44% equity stake in Rage Coffee through a combination of primary infusion and secondary buyouts.

abCoffee raises $3.4 Mn in Series A round

EntrackrEntrackr · 1y ago
abCoffee raises $3.4 Mn in Series A round
Medial

Specialty coffee QSR chain abCoffee has raised $3.4 million in its Series A round led by Nexus Venture Partners, with participation from existing investor Tanglin Venture Partners. Earlier to this round, the startup had raised $2 million in its seed round led by Tanglin Venture in September last year. The proceeds will be used to enable abCoffee to ramp up its supply chain and technology stack to bring on-demand coffee beverages at lower prices in quicker time, abCoffee said in a press release. Founded in 2022 by Abhijeet Anand, abCoffee offers a wide variety of freshly brewed coffees at affordable prices and provides all the traditional blends including Americano, Latte, Flat White, Iced Latte, and Irish Cold Coffee. The company boasts a customer loyalty rate of 61%, nearly double the industry average, reflecting its commitment to exceptional service with a turn around time (TAT) of 1.5 minutes. Recently, the brand opened 25 outlets across Mumbai and Delhi within a span of 20 months. The brand is targeting 150 stores by end of 2024. Its competitors include Third Wave Coffee, Blue Tokai, Rage Coffee, Slay Coffee, Sleepy Owl, and Seven Beans Co., among others.

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