Speciality coffee brand Blue Tokai Coffee Roasters has raised $30 million in its Series B funding round led by A91 Partners. The round also saw White Whale Ventures coming on board as a new investor besides participation from existing investors including Grand Anicut Fund, 8i Ventures and leading family offices.
The company’s previous fund raise was in June last year.
The firm intends to continue scaling business and expand its presence globally.
Matt Chitharanjan, Co-Founder and CEO, Blue Tokai Coffee Roasters, said, “We are excited to have A91 Partners as our newest investors and join us on this journey of making Indian speciality coffee accessible to coffee lovers globally. We are focused on growing our presence across all our channels, including our cafes as well as our B2C and B2B offerings. In the coming three years, we plan to showcase the work done by nearly 100 new speciality coffee producers, thus enabling a far more diverse product offering at Blue Tokai.”
He said new products, services and farm-level interventions are on the cards.
Over the next three years, the brand plans to add 200 new stores, taking the overall count to over 250. It will also invest in its B2B arm and plans to introduce vending machine-based offerings, the statement added.
Abhay Pandey of A91 Partners pointed out that there is a massive coffee-led QSR (quick-service restaurant) market opportunity.
“India is moving towards coffee as a beverage of choice, and we are looking forward to further building this category with Blue Tokai as the largest speciality coffee brand in the country,” added Prasun Agarwal of A91 Partners.