Team Startupcity

• Blue Tokai secures $25 Million from existing investors to fuel growth.
• Funds to expand retail footprint in India, enter UAE and Japan, and scale roasteries and bakeries.
• Company aims for 800+ stores and Rs 2,000 crore revenue in the next four years.

Blue Tokai Coffee Roasters, a homegrown specialty coffee chain, has raised $25 million (around Rs 220 crore) in a bridge funding round from its existing investors A91 Partners, Anicut Capital, Verlinvest, and 12 Flags.

This comes a year after the company’s $35 million Series C round led by Verlinvest. With the latest round, Blue Tokai’s total funding now stands between $97 million and $105 million. 

The company said the fresh funds will be used to expand its retail presence, strengthen back-end infrastructure, and scale up internationally. Plans include entering Dubai (UAE) and expanding further in Japan. In India, Blue Tokai will continue to open more cafés while expanding its roasteries and bakery facilities in Bengaluru and Gurugram.

Co-founder and COO Shivam Shahi said the company had revised its growth targets, thanks to stronger-than-expected consumer demand. “We are on track for our initial plan of Rs 1,000 crore revenue and Rs 100 crore EBITDA by 2027, but with recent response, we are now aiming for over 800 stores and Rs 2,000 crore revenue in the next four years”, he added.

Founded in 2013 by Shivam Shahi, Matt Chitharanjan, and Namrata Asthana, Blue Tokai today runs four roasteries and over 150 cafés across Delhi NCR, Mumbai, Bengaluru, Hyderabad, and other cities.

The brand has grown more than five times in the past four years. Its revenue rose from Rs 41 crore in FY21 to Rs 216 crore in FY24. However, its net loss widened by 46% to Rs 62.9 crore in FY24, mainly due to higher operating costs from its aggressive expansion.

Also Read: Coffee & Bakery-specialized Startup 'Blue Tokai' attracts fresh $35 million in Series C

According to reports, A91 Partners is the largest external stakeholder, holding a 22.77% stake, followed by Verlinvest. 

Co-founder and CEO Matt Chitharanjan said, “We believe in not just building a brand but creating a legacy that puts India’s coffee culture on the world map. This new round of funding reflects our vision to make India a global coffee destination while driving sustainability and opportunities for coffee lovers and entrepreneurs”.