Blue Tokai, a prominent Indian specialty coffee and bakery brand, has successfully raised $35 million (approximately Rs 293 crore) in a Series C funding round. The investment was led by Verlinvest, a global evergreen investment firm, with additional contributions from existing investors Anicut Capital and A91 Partners.
Verlinvest, known for its investments in FMCG, health, consumer technology, and lifestyle sectors, has a broad international presence with offices in Brussels, London, New York, Singapore, and Mumbai.
Plans for Expansion
With the new funding, Blue Tokai aims to enhance its presence in existing metro markets and extend its footprint into Tier I and II cities across India over the next three years. The company, which currently operates 130 outlets, plans to grow this number to over 350 locations. This expansion will include not only new cafes but also innovations in product offerings and new distribution channels.
Matt Chitharanjan, Co-founder and CEO of Blue Tokai, expressed excitement about the growth opportunities: “This latest funding allows us to extend our passion for exceptional coffee to a broader audience. We will accelerate our expansion across various channels, including our own cafes and B2B and B2C platforms.” He also noted plans for introducing innovative coffee products and partnering with new producers to diversify their offerings.
Founders and Vision
Founded in 2013 by Matt Chitharanjan, Namrata Asthana, and Shivam Shahi, Blue Tokai has established a reputation for delivering high-quality specialty coffee and artisanal bakery items.
Arjun Anand, Managing Director & Head of Asia at Verlinvest, praised the team’s achievements: “Matt, Namrata, and Shivam have created a beloved brand known for its outstanding products and customer service. We are excited to support Blue Tokai in its mission to become India’s leading coffee chain and to enhance its customer experience.”
Shivam Shahi, Co-founder and COO of Blue Tokai, highlighted the growing demand for quality coffee and bakery products: “This funding validates our market growth hypothesis. We’ve been adding five new cafes each month and this investment will help us reach our target of over 350 locations within the next three years.”
