Chai Waale, a Chennai based tea brand, has now secured funding of INR 1.75 crore, from a group of angel investors.
The angel investors include the Tharun Dhariwal, ED of Dhariwal Group; Sunil Kumar Singhvi, Managing Partner of South Handlooms; Chennai-based HNIs, Arun and Vishal Ostwal, hailing the top management of the DK Group of Companies; Gunavanth Vaid of 4G Capital Ventures and Bharat Kumar Sohanraj from the family of heritage jewelers, Mahalaxmi Jewellers.
With the help of this funding, the startup revealed that it is working towards expanding its product portfolio and store footprint and is also open to talks with the investors to secure the next funding round.
“Each outlet clocks an average sale of 1,300-1,500 cups per day along with quick bites. All our units have turned profitable at the store level. The funds raised will aid in a measured geographical expansion as well as streamline the supply chain systems,” said the founder Vidur Maheswari.