Chaayos, which is a New Delhi based tea café, has now secured $21.5 million in a mix of both the debt and equity funding.
The $18.5 million equity round was led by the Think Investment and also got the participation from existing investors, including SAIF Partners, Tiger Global, Integrated Capital, and others.
Nitin Saluja, Founder, and CEO, Chaayos, said,
“Our biggest validation comes from the 1.7 million registered guests that choose to come back to Chaayos at a very high frequency. Continued confidence of our guests has allowed us to expand our cafe network at a fast pace and we will end FY20 with nearly 100 cafes.”
“We shall endeavour to get to 300 cafes over the course of the next three to four years. Alongside growing our café network, we will continue to invest heavily into technology and augment team across all levels.”
Chaayos is a technology-led chai café that was started by the Two IITians – Raghav and Nitin in 2012.