Total amount raised
$85.5 Million
Latest funding date
6/1/2022
Location
Chaayos has successfully raised funding through 8 rounds, attracting investments from notable firms such as Think Investments, Elevation Capital, and Alpha Wave Ventures. The company leverages technology to offer personalized chai experiences, both in its physical café locations and through its online store.
Keep reading to explore the intricacies of Chaayos' fundraising journey and the investors backing this innovative tea café chain.
What Is Chaayos?
Chaayos is a chai tea café chain based in New Delhi, India, operating in the food and beverage industry. The company leverages technology to offer personalized chai experiences both in its physical café locations and through its online store.
Founded by a team of passionate tea enthusiasts, Chaayos has grown to employ between 501 and 1000 people. The company is known for its wide variety of tea products, including instant tea, spiced chai, and herbal tea, and offers chai delivery services and premium gifting options.
How Much Funding Has Chaayos Raised?
- Series C
- Amount Raised: $45 million
- Date: June 13, 2022
- Lead Investors: Alpha Wave Ventures
- Valuation at Round: Approximately $250 million
- Motivation Behind the Round: To fund offline expansion and open 500 chai cafes in the next 2-3 years.
- Debt Financing
- Amount Raised: $3 million
- Date: February 11, 2020
- Lead Investors: InnoVen Capital
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To support operational and growth needs.
- Series B
- Amount Raised: $18.5 million
- Date: February 11, 2020
- Lead Investors: Think Investments
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To expand the store network.
- Series B
- Amount Raised: $12 million
- Date: September 5, 2018
- Lead Investors: Elevation Capital, Integrated Capital
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: For offline expansion.
- Series A
- Amount Raised: $2 million
- Date: October 13, 2017
- Lead Investors: Tiger Global Management
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: For initial scaling and growth.
- Series A
- Amount Raised: Not publicly disclosed
- Date: August 31, 2016
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: Not publicly disclosed
- Series A
- Amount Raised: $5 million
- Date: May 19, 2015
- Lead Investors: Tiger Global Management
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: For initial scaling and growth.
- Seed
- Amount Raised: $270,000
- Date: July 2, 2014
- Lead Investors: Powai Lake Ventures
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To kickstart operations and initial growth.
Total amount raised: $85.77 million. Current valuation: Approximately $250 million.
Key Investors
- Alpha Wave Ventures
- Details: Alpha Wave Ventures is a venture capital firm known for investing in high-growth technology companies. They led the Series C funding round for Chaayos.
- Investment Focus Areas: High-growth technology companies.
- Notable Investments: Specific companies are not mentioned in the sources.
- Elevation Capital
- Details: Formerly known as SAIF Partners, Elevation Capital is a venture capital firm that invests in early-stage and growth-stage companies in India. They have been involved in multiple funding rounds for Chaayos.
- Investment Focus Areas: Technology, consumer, financial services.
- Notable Investments: Paytm, Swiggy, UrbanClap.
- Tiger Global Management
- Details: Tiger Global Management is a global investment firm that focuses on private and public companies in the internet, software, consumer, and financial technology sectors. They have participated in several funding rounds for Chaayos.
- Investment Focus Areas: Internet, software, consumer, financial technology.
- Notable Investments: Flipkart, Ola, Zomato.
- Think Investments
- Details: Think Investments is an investment firm that focuses on public and private equity investments globally. They have been a recurring investor in Chaayos.
- Investment Focus Areas: Technology, consumer sectors.
- Notable Investments: Specific companies are not mentioned in the sources.
- InnoVen Capital
- Details: InnoVen Capital is a venture debt firm that provides debt financing to high-growth companies. They led the debt financing round for Chaayos.
- Investment Focus Areas: High-growth companies across various sectors.
- Notable Investments: Specific companies are not mentioned in the sources.
What's Next for Chaayos?
Chaayos is poised for significant growth, with plans to expand its chain of stores and enhance its technological capabilities. The company aims to open 100 new stores by the end of the year, leveraging IoT bots and facial recognition to offer personalized tea experiences. This expansion presents a substantial opportunity in the growing Indian tea and coffee market, projected to reach INR 4,540 crore by 2023.
Future fundraising opportunities appear promising, given the strong backing from investors like Alpha Wave Ventures, Elevation Capital, and Tiger Global. These funds will likely support further expansion and technological advancements. However, Chaayos may face challenges such as managing rapid growth, maintaining quality across new stores, and navigating competition from other tea and café chains.
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