- August 12, 2021 / 6 min readThe brand will use the fund to launch new products, execute farm-level interventions to improve quality, expand internationally and for marketing.
Gurgaon-based coffee startup Blue Tokai Coffee Roasters has raised Rs 17 crore in pre-series B bridge round led by Anicut Angel Fund, the equity arm of Anicut Capital.
The round also saw participation from other new and existing investors.
As per the release, the brand will use the fund to launch new products, execute farm-level interventions to improve quality, expand internationally and for marketing.
“Cafes were an important part of that mission, but like many brands, Covid-19 completely upended the economics of that business. We were fortunate to already have a strong D2C (direct-to-customer) presence and by refocusing our efforts on our online sales channels, we’ve been able to grow our revenue nearly 50 per cent more than our pre-Covid peak. The funding we received demonstrates that we saw the pandemic as an opportunity to build a base for the next leg of our growth and we are grateful to partner with investors who share our vision,” said Matt Chitharanjan, Co-founder, Blue Tokai Coffee Roasters.
Started in Gurgaon in 2012 with an aim to serve speciality coffee to the customers, it started selling its coffee online and through B2B partnerships.
At present, it also operates cafes in Delhi, Gurgaon, Kolkata, Mumbai and a newly launched café in Hyderabad.
Started by Matt Chitharanjan, Namrata Asthana and Shivam Shahi, the brand refocused on their online business to reach more customers during covid by making high-quality coffee more accessible to people across the country.
They are also present in ready-to-brew and ready-to-drink products.
“We are privileged and delighted to partner with the entire Blue Tokai team as they march ahead in their mission to introduce people to great-tasting coffee grown in India and set a coffee culture through their cafes and website,” added Ashvin Chadha, Co-founder, Anicut Angel Fund.
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