Verlinvest Backs Blue Tokai with USD 35 Mn to Boost Presence in Metro and Tier I, II Cities The newly acquired funds will enable the brand to expand to over 350 locations within the next 30-36 months, drive product innovation, and explore new sales channels.
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Specialty coffee and bakery brand Blue Tokai announced that it has secured USD 35 million funding from Verlinvest. The Series C funding round also saw the participation of existing investors, Anicut Capital and A91 Partners.
This strategic partnership is set to bolster Blue Tokai's presence in existing metro markets and fuel its expansion into Tier I and Tier II cities across India over the next three years.
Arjun Anand, Managing Director and Head of Asia, Verlinvest, said, "We are thrilled to partner with Blue Tokai in their mission to bring specialty coffee to millions across India. Matt, Namrata, and Shivam have brilliantly crafted a cult brand known for its exceptional products and customer experience. Together, we are committed to elevating Blue Tokai to new heights, creating India's leading coffee chain, and delighting consumers with unparalleled quality and service."
Founded in 2013 by Matt Chitharanjan, Namrata Asthana, and Shivam Shahi, Blue Tokai claims to have grown its presence, more than doubling its store count to 130 outlets in the past year. The newly acquired funds will enable the brand to expand to over 350 locations within the next 30-36 months, drive product innovation, and explore new sales channels.
Matt Chitharanjan, Co-founder and CEO of Blue Tokai, said, "With this latest funding, we have the opportunity to bring our passion for coffee to even more people. We will utilise these funds to accelerate our expansion across all channels—from our own cafes to B2B and B2C platforms."
"By introducing innovative coffee product offerings through new producers, we will enable ourselves to reach new consumers with varied offerings and continue delivering consistent coffee experiences. Our focus remains to provide exceptional coffee experiences while fostering sustainable growth," he added.
Verlinvest, established in 1995, focuses on investments in FMCG, health, consumer technology, and lifestyle sectors, with a diverse portfolio that includes brands like Oatly, Vita Coco, and BYJU's.
