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

EntrackrEntrackr · 3m 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.

Blue Tokai posts Rs 325 Cr revenue in FY25, cuts losses by 21%

EntrackrEntrackr · 5d ago
Blue Tokai posts Rs 325 Cr revenue in FY25, cuts losses by 21%
Medial

Blue Tokai posts Rs 325 Cr revenue in FY25, cuts losses by 21% Speciality coffee chain Blue Tokai Coffee Roasters has posted 50% year-on-year growth in its scale while simultaneously tightening its losses during FY25. India’s coffee culture continues to deepen and evolve, even as the market becomes increasingly crowded with new-age brands and speciality chains entering the space. Amid this intensifying competition, speciality coffee chain Blue Tokai Coffee Roasters has posted 50% year-on-year growth in its scale while simultaneously tightening its losses during FY25. According to the company’s consolidated financial statements accessed from the Registrar of Companies (RoC), its revenue from operations rose to Rs 325 crore in FY25, up from Rs 216 crore in FY24. The sale of coffee and related products remained the sole source of revenue for Blue Tokai in the last fiscal year. As per the company’s website, it now operates over 100 stores across India. On the cost front, the company spent Rs 113 crore on the procurement of products against sales of Rs 325 crore during the year. Employee benefit expenses also rose 24% year-on-year to Rs 94 crore in FY25. Meanwhile, expenses related to rent, logistics, marketing, and other overheads pushed total expenditure up by 35.3% to Rs 385 crore in FY25, compared with Rs 284.5 crore in the previous fiscal year. Despite this rise, tighter cost controls and operating leverage from higher revenues helped improve the company’s overall financial efficiency. As a result, Blue Tokai reduced its losses by 20.6% to Rs 50 crore in FY25, from Rs 63 crore in FY24. Key profitability metrics also showed improvement, with ROCE improving to -14.4% and EBITDA margin narrowing to -3.69%. On a unit economics level, the company spent Rs 1.18 to earn every rupee of revenue during the year. The improved scale and operational discipline appear to have reinforced investor confidence. During the year, Blue Tokai raised $25 million in a bridge round from its existing investors, taking its total funding raised to over $110 million to date. While some early coffee brands have exited over the years, new startups continue to enter India’s crowded specialty coffee market. Recently, Toffee Coffee, Notting Coffee and Sweet Karam Coffee raised pre Series A funding, while Chelbess Coffee, First Coffee and Subko Coffee also secured fresh capital from investors. The recent funding activity shows that investors continue to believe in India’s growing coffee market, even as brands focus not just on growth, but also on standing out, managing costs, and moving closer to profitability.

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.

Blue Tokai posts Rs 216 Cr revenue with improved EBITDA margin in FY24

EntrackrEntrackr · 11m ago
Blue Tokai posts Rs 216 Cr revenue with improved EBITDA margin in FY24
Medial

Blue Tokai posts Rs 216 Cr revenue with improved EBITDA margin in FY24 Blue Tokai Coffee Roasters has 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. Blue Tokai’s revenue from operations grew 70% year-on-year to Rs 216 crore in FY24 from Rs 127 crore in FY23, its annual consolidated financial statements sourced from the Registrar of Companies show. Income from the sale of coffee accounted for 93% of the overall operating revenue which stood at Rs 201 crore in FY24. The rest of the collections come from the sale of bakery products. Blue Tokai claims to have 130 outlets and plans to expand to over 350 locations in the next 3 years. The company also added Rs 5 crore from interest on deposits and gains on mutual funds, which tallied its overall income to Rs 221 crore in FY24 and Rs 129 crore in FY23. Moving towards the cost breakdown, employee benefits were the largest cost center, accounting for 29.5% of the overall cost, which increased by 95% to Rs 84 crore in FY24. Blue Tokai’s procurement costs increased by 46% to Rs 83 crore in FY24. Due to the notable expansion of the outlets, the rent cost surged 94% to Rs 33 crore in FY24. Its legal, advertising, communication, travel, and other overheads increased the total expenditure by 66% to Rs 285 crore in FY24 from Rs 172 crore in FY23. The surge in employee benefits and rent costs outpaced the revenue growth which led Blue Tokai to post a 46% increase in losses which stood at Rs 63 crore in FY24, compared to Rs 43 crore in FY23. However, the company improved its EBITDA margin, narrowing it from -24.7% in FY23 to -19% in FY24. Blue Tokai spent Rs 1.32 to earn a rupee during the fiscal year. By the end of FY24, the company reported current assets of Rs 153 crore, including cash and bank balances of Rs 61 crore. Blue Tokai has raised over $80 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. On the competition side, Third Wave Coffee posted Rs 240 crore of revenue with a loss of Rs 110 crore in FY24. While Starbucks India posted a whopping Rs 1,218 crore in revenue in the previous fiscal. Sleepy Owl, Subko Coffee, and Seven Beans are yet to post their financial results for FY24.

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