Blue Tokai Raises $35 Mn In Series C
The partnership will enable Blue Tokai to deepen its presence in metro cities and expand into new tier I and tier II cities in over the next three years.
Verlinvest, an investment platform, led a USD 35 million series C round in specialty coffee and bakery brand Blue Tokai. Existing investors Anicut Capital and A91 Partners also joined the round, according to media reports.
As per media reports, the partnership will enable Blue Tokai to deepen its presence in metro cities and expand into new tier I and tier II cities in over the next three years.
Blue Tokai has raised USD 30 million in its Series B round led by A91 Partners. Blue Tokai’s revenue from operations surged 72 per cent to Rs 127.45 crore in FY23. Its losses also increased nearly 3.5 times to Rs 43 crore in FY23, compared to Rs 12.3 crore in FY22.
The company claimed that it has doubled its count of store in the last 12 months. The funds might also be used to expand to over 350 locations, as per media reports.
Led by co-founders Matt Chitharanjan, Namrata Asthana, and Shivam Shahi, Blue Tokai has partnered with luxury hotels, restaurants, top corporates, several retail outlets, and co-working spaces, among others.
