Blue Tokai, one of India’s leading specialty coffee brands, has successfully raised $35M (approximately Rs 293 crore) in a Series C funding round. The round was led by Verlinvest, a global investment firm with a focus on consumer-driven sectors, and saw participation from existing investors Anicut Capital and A91 Partners.
This funding marks a significant milestone for Blue Tokai, as it prepares to scale its operations and reach more coffee enthusiasts across India.
Strategic Expansion Plans
Blue Tokai has outlined ambitious plans to deepen its presence in existing metro markets and expand into new Tier I & II cities over the next three years. The company currently operates 130 outlets and aims to increase this number to over 350 locations.
The raised capital will be utilized not only to expand the physical presence of Blue Tokai but also to drive new product innovation and explore additional distribution channels. The goal is to make Blue Tokai’s specialty coffee and artisanal bakery products more accessible to a broader audience across the country.
We have been steadily adding 5 cafes each month for over a year, and this capital equips us to meet our three-year target of 350+ cafes in India.
Shivam Shahi, Co-founder and COO of Blue Tokai
Quality and Innovation
Speaking about the latest funding round, Matt Chitharanjan, Co-founder and CEO of Blue Tokai, expressed his excitement about the future. “With this latest funding, we have the opportunity to bring our passion for coffee to even more people. We will utilize these funds to accelerate our expansion across all channels – from our own cafes to B2B and B2C platforms,” Chitharanjan said.
He further emphasized the company’s commitment to introducing innovative coffee products through new producers, aiming to provide a wider range of offerings to customers while maintaining the brand’s reputation for exceptional quality.
Co-founders Vision and Leadership
Founded in 2013 by Matt Chitharanjan, Namrata Asthana, and Shivam Shahi, Blue Tokai has grown into a beloved brand known for its specialty coffee and artisanal bakery goods. The founders’ vision of delivering high-quality coffee experiences has driven the brand’s rapid growth and popularity.
Shivam Shahi, Co-founder and COO of Blue Tokai, highlighted the company’s growth trajectory, stating, “We are experiencing a significant surge in demand for quality coffee and bakery products, and this funding round further validates our hypothesis regarding market growth. We have been steadily adding five cafes each month for over a year, and this capital equips us to meet our three-year target of 350+ cafes in India.”
Fund Backing from Verlinvest
Verlinvest, which has offices in Brussels, London, New York, Singapore, and Mumbai, focuses on FMCG, health, consumer technology, and lifestyle sectors. Arjun Anand, Managing Director & Head of Asia at Verlinvest, expressed his enthusiasm for the partnership with Blue Tokai.
“We are thrilled to partner with Blue Tokai in their mission to bring specialty coffee to millions across India. Matt, Namrata, and Shivam have brilliantly crafted a cult brand known for its exceptional products and customer experience. Together, we are committed to elevating Blue Tokai to new heights, creating India’s leading coffee chain and delighting consumers with unparalleled quality and service,” Anand said.
Blue Tokai’s recent funding round is set to propel the brand to new heights, expanding its reach and solidifying its position as a leading specialty coffee chain in India. With a strong focus on quality, innovation, and strategic growth, Blue Tokai is poised to meet the rising demand for premium coffee experiences across the country.
