Chai Kings, which is a Chennai based teal retail chain, has now secured $1 million in the funding round from an angel investors group, The Chennai Angels. The round also sees participation from Hyderabad Angels and TiE India Angels.
Piyush Bhandari, who led the investment from TCA said,
“We are very excited to partner with Chai Kings in the bridge round. We believe the company has a strong leadership team with immense potential to grow and expand across India. The new investment reiterates our commitment towards building a sustainable and scalable Indian QSR.”
The startup, which is founded in 2016, and as of now, is operating in 40 stores across India. The startup claims that it offers a sumptuous range of chai in exotic flavors in the most hygienic ambiance, and at perfectly justifiable prices.
It also delivers tea at customers’ doorsteps anywhere in Chennai, using the good grade, use, and throw, heat-retaining flasks for safe consumption, that make sure that the tea is piping hot for at least an hour.
Jahabar Sadique, CEO of Chai Kings, said,
“We are happy with the success and progress of our brand in Chennai, and this funding round will help us expand into newer cities. We hope to enter Coimbatore, Bengaluru, and Hyderabad in this year, and get closer to our target of 100 stores in five years. Apart from expansions, the bulk of this funding will be utilized to strengthen our operations and supply chain management.”