India’s specialty coffee pioneer Blue Tokai Coffee Roasters has raised $25 million in fresh funding, just a year after securing $35 million in its Series C round led by Verlinvest. The company says the new funds will fuel its global and domestic expansion, with a strong focus on Dubai and Japan, while also growing its café presence, roasteries, and bakery facilities in India.
Co-founder and COO Shivam Shahi revealed that the company has revised its growth targets to match consumer demand. While the initial goal was to achieve Rs 1,000 crore in revenue and Rs 100 crore EBITDA by FY27, Blue Tokai is now looking at 800+ stores and Rs 2,000 crore in revenue within the next four years.
About Blue Tokai Coffee
Founded in 2013 by Shahi, Matt Chitharanjan, and Namrata Asthana, Blue Tokai has become a household name among coffee lovers in India. With four roasteries and over 150 cafés across Delhi NCR, Mumbai, Bengaluru, Hyderabad, and other cities, the brand has built a strong foundation for its global push.
We are on track for our initial plan of Rs 1,000 crore in revenue and Rs 100 crore EBITDA by 2027, but with recent market response, we have revised our plans to accelerate growth and have started thinking about 800 + stores and 2000 crore revenue in next four years.
Shivam Shahi, Co-founder and COO, Blue Tokai
The new capital injection will help Blue Tokai enter Dubai as its first Middle Eastern market while also expanding further in Japan, which has shown increasing demand for Indian specialty coffee. Co-founder and CEO Matt Chitharanjan said the company’s mission is to not just grow a brand but create a legacy that elevates India’s coffee culture on the world stage.
Funding and Financial Growth
Including this latest round, Blue Tokai has raised between $97 million and $105 million in total funding. Its biggest external shareholder remains A91 Partners, holding a 22.77% stake, followed by Verlinvest. Over the past four years, Blue Tokai’s growth has been staggering, with revenue rising from Rs 41 crore in FY21 to Rs 216 crore in FY24.
However, the company’s net losses widened by 46% to Rs 62.9 crore in FY24, driven by rising operating costs due to its rapid expansion strategy. Despite this, the management remains confident that profitability will align with scale, especially as consumer demand for premium coffee continues to rise in India and abroad.
Blue Tokai Coffee Menu
Blue Tokai is loved not only for its cafés but also for its signature coffee menu, which has helped shape India’s modern café culture. Its menu includes single-estate brews, cold brews, pour-overs, espressos, and flavored options, alongside bakery offerings such as croissants, breads, and cakes. The brand has also expanded into ready-to-drink bottled coffees and subscription-based roasted beans, making premium coffee more accessible to customers at home.
With increasing awareness around specialty coffee, Blue Tokai’s carefully curated menu has become a symbol of quality, transparency, and sustainability, appealing to India’s growing community of coffee enthusiasts.
Building a Coffee Legacy
For the founders, the journey has always been about more than just selling coffee. As Matt explained, the focus is on inspiring a cultural shift, supporting sustainability in sourcing, and creating opportunities for coffee growers and entrepreneurs. By expanding to Dubai and Japan, Blue Tokai hopes to position Indian coffee as a global contender, showcasing the richness of beans cultivated across estates in Karnataka, Tamil Nadu, and Chhattisgarh.
As India’s café market heats up with international players and local chains competing for attention, Blue Tokai’s bold funding push and ambitious vision may help it stay ahead as the face of India’s coffee revolution.
