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Tea café chain Chaayos has raised about Rs 81 crore ($12 million) in a series B round of funding from SAIF Partners, Integrated Capital and Pacatolus.
The company said that the infusion of funds will be used to further consolidate its presence in the existing markets. It will open new outlets in markets such as Delhi-NCR, Mumbai and Chandigarh. In the past, Chaayos has raised $7 million from Tiger Global.
In a statement, Nitin Saluja, Founder & CEO, Chaayos said, “Chaayos was started with a vision to serve a customised cup of tea to every chai-lover, backed by great food, and delivering a seamless customer experience. We are excited to partner with our new investors to further propel the chai café revolution in India.”
The chain currently operates over 52 cafes across 7 cities. The company said that while the food business now contributes about 45 per cent to its revenues, 20 per cent contribution comes from deliveries.
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