Speciality coffee chain Blue Tokai Coffee Roasters has raised $25 Mn (around INR 220 Cr) in a bridge funding round from existing backers, including A91 Partners, Anicut, Verlinvest, and 12 Flags.
In a statement, the startup said it plans to deploy the capital to scale its retail operations, strengthen back-end infrastructure and enter international markets, including Dubai and Japan.
It also plans to use a part of the freshly raised capital to open more stores in India and expand its roasteries and bakery facilities in Bengaluru and Gurugram.
“We are on track for our initial plan of INR 1,000 Cr in revenue and INR 100 Cr EBITDA by 2027, but with recent market response, we have revised our plans to accelerate growth and have started thinking about 800 + stores and INR 2,000 Cr revenue in the next four years. In addition to this we are also putting effort to grow our business in the UAE and Japan,” Blue Tokai cofounder and COO Shivam Shahi said.
The fundraise comes a year after the startup raised $35 Mn in its Series C funding round led by Verlinvest. Back then, Blue Tokai said it would use the funds to deepen its presence in existing metro cities and expand its footprint to new tier I & II cities over the next three years.
(The story will be updated soon)
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