30 August 2018, India:
Chai retail chain “Chai Kings” has raised ₹2 crore in funding from The Chennai Angels (TCA).
The company will use the fresh capital for market expansion and branding.
Balaji Sadagopan, Co-Founder & COO, Chai Kings said, “We are excited to have The Chennai Angels part of our journey. We are planning to setup additional stores to cater to folks in IT Parks, Malls and few stores in High Streets, at a faster pace. There is going to be a sea of new product launches as well.”
Jahabar Sadique, Co-Founder & CEO, Chai Kings, said, “We are super happy with our progress so far and have created a niche and following for the brand. This investment is coming at the right time will further propel us. This funding proceeds will be used towards adding retail stores and to strengthen our service operations.”
Piyush Bhandari (who lead the investment from The Chennai Angels), said, “Sadique and Balaji have built a strong brand with Chai Kings, which has a great potential to scale given the vast consumption base in the country. We look forward to working with the Chai Kings team and helping them scale up their operations. We are excited to partner with Chai Kings and be a part of their growth journey.”
Chai Kings was founded by Jahabar Sadique and Balaji Sadagopan in 2016.
(Image – The Chennai Angels)