Blue Tokai Raises $35 Million for Expansion

Blue Tokai, India's leading specialty coffee and bakery brand, has secured $35 million in a Series C funding round led by Verlinvest, alongside existing investors Anicut Capital and A91 Partners. This investment, which values the company at approximately $180 million, will facilitate Blue Tokai's expansion into over 350 locations across Tier I and II cities in India over the next three years, while also driving product innovation and exploring new sales channels. Co-founder and CEO Matt Chitharanjan noted that the funds will help deepen their presence in metro markets and enhance both B2B and B2C offerings. The company has doubled its store count to 130 in the past year and aims to continue its rapid growth amidst increasing competition in the specialty coffee sector. Verlinvest's Managing Director, Arjun Anand, expressed excitement about the partnership, emphasizing their commitment to elevating Blue Tokai's brand and customer experience. As the market heats up, Blue Tokai's expansion strategy comes as rivals like Third Wave Coffee face management challenges.