Blue Tokai Secures $35 Million in Series C Funding from Verlinvest to Expand Nationwide

Blue Tokai, India’s leading specialty coffee and confectionery brand, has secured $35 million in a Series C funding round led by Verlinvest, a global investment platform. This latest infusion of capital also saw participation from existing investors Anicut Capital and A91 Partners, further strengthening the company’s growth trajectory.

This strategic partnership will enable Blue Tokai to deepen its presence in existing metro markets and expand into new tier I and tier II cities across India over the next three years. The company, which has already seen rapid growth, more than doubling its store count to 130 outlets in the past year, aims to expand to over 350 locations within the next 30-36 months.

Blue Tokai has established itself as a premium brand, collaborating with luxury hotels, restaurants, co-working spaces, and retail outlets. The funds raised will not only support the company’s physical expansion but also drive innovation in its product offerings and enhance customer experiences across all channels.

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In the previous fiscal year, Blue Tokai reported a 72% increase in revenue from operations, reaching Rs 127.45 crore, up from Rs 74 crore in FY22. Despite the impressive growth, the company also faced challenges, with losses increasing nearly 3.5 times to Rs 43 crore in FY23, compared to Rs 12.3 crore in FY22, according to data from TheKredible, a startup data intelligence platform. The company’s financial report for FY24 is yet to be submitted.

Founded in 2013 by Matt Chitharanjan and Namrata Asthana, Blue Tokai Coffee Roasters has grown to become India’s largest and fastest-growing specialty coffee brand. With its headquarters in Gurgaon, the company continues to set new benchmarks in the industry, focusing on quality, innovation, and customer satisfaction.