Funding Boost for Expansion and Innovation
Chennai-based chai retail chain Chai Kings has successfully raised $3 million (Rs 24 crore) in a Series A funding round led by A.V. Thomas and Co. (AVT). This marks a significant milestone in the company’s growth trajectory, as it aims to expand its presence and enhance its offerings.
Partial Exit for The Chennai Angels
This investment also facilitates a partial exit for The Chennai Angels (TCA), who had previously invested in Chai Kings during its $1 million seed round in January 2020. Other early investors included Hyderabad Angels and TiE India Angels. TCA has reportedly made substantial returns from this exit, reflecting the brand’s strong performance and market acceptance.
Expansion and Future Plans
The newly raised capital will be used to accelerate store expansion, enhance product offerings, and strengthen the supply chain. Additionally, the company aims to improve customer engagement and operational efficiency to drive further growth.
Founded in 2016 by Jahabar Sadique and Balaji Sadagopan, Chai Kings currently operates 57 stores across Chennai, Hyderabad, and Coimbatore. The brand is known for premium tea blends, sustainable packaging, and a customer-centric approach. Chai Kings expects to close FY25 with Rs 48 crore in revenue and aims to double its earnings over the next two years while maintaining profitability.
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