Specialty coffee chain to accelerate global growth, strengthen infrastructure, and scale cafés across India
Blue Tokai Coffee Roasters, India’s leading specialty coffee chain, has raised $25 million (approx. ₹220 crore) in a bridge funding round from existing investors A91 Partners, Anicut Capital, Verlinvest, and 12 Flags. The fresh infusion comes a year after its $35 million Series C round led by Verlinvest, reported indianstartupnews.com.
Funding to fuel entry into Dubai, expansion in Japan, and rapid growth in India
The company said the capital will be used to expand its retail footprint, strengthen back-end infrastructure, and establish a presence in Dubai and Japan. In India, Blue Tokai will scale its cafés while adding new roasteries and bakery facilities in Bengaluru and Gurugram.
“Consumer demand has outpaced earlier projections, prompting the company to revise its targets.”
— Shivam Shahi
“We are on track for our initial plan of ₹1,000 crore in revenue and ₹100 crore EBITDA by 2027, but with recent market response, we have started thinking about 800+ stores and ₹2,000 crore revenue in the next four years,” he noted.
Company eyes global coffee legacy despite rising costs
Founded in 2013 by Shahi, Matt Chitharanjan, and Namrata Asthana, Blue Tokai currently operates four roasteries and over 150 cafés across Delhi NCR, Mumbai, Bengaluru, Hyderabad, and other cities. Including this round, it has raised between $97–105 million in total funding, with A91 Partners being the largest external stakeholder at 22.77%.
The company’s revenue has surged more than fivefold in four years, rising from ₹41 crore in FY21 to ₹216 crore in FY24. However, losses widened 46% to ₹62.9 crore in FY24 due to higher operating costs from aggressive expansion.
Co-founder & CEO Matt Chitharanjan said, “We believe in not just building a brand but creating a legacy that elevates India’s coffee culture on the world stage. This funding validates our vision of making India a true coffee destination worldwide while driving sustainability and entrepreneurship.”
