The speciality coffee chain Blue Tokai Coffee secured a USD 35 million investment led by Verlinvest, with contributions from existing investors Anicut Capital and A91 Partners. Blue Tokai plans to use this investment to speed up its expansion across all its platforms, including cafes, B2B, and B2C channels.

As reported by TheCaptable earlier this year, Blue Tokai is in talks for the investment at a pre-money valuation of Rs 1,300 crore (approximately USD 180-200 million post-money valuation).

Established in 2013, Blue Tokai aims to leverage this partnership to grow its presence in current metro markets and extend into new Tier I and II cities in India over the next three years. The company plans to expand to over 350 locations in 30-36 months, introduce new product innovations, and diversify into new channels.

Matt Chitharanjan, co-founder and CEO of Blue Tokai, mentioned that they would use these funds to hasten expansion across all channels—from their cafes to B2B and B2C platforms. By introducing innovative coffee offerings through new producers, they aim to reach new consumers with diverse offerings and continue providing consistent coffee experiences.

Shivam Shahi, the co-founder and COO of Blue Tokai Coffee Roasters, anticipates that this funding will help them achieve their 3-year target of surpassing 350 cafes in India. The company has been adding 5 cafes every month for over a year.

Founded by Matt Chitharanjan, Namrata Asthana, and Shivam Shahi, the coffee chain has doubled its store count in the past year to 130 outlets. Blue Tokai offers a variety of speciality coffee and artisanal bakery products and competes with local peers such as Araku, Subko Coffee, Third Wave Coffee Roasters, and international brands like Starbucks and Tim Hortons.

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