2020 has began on a positive note for tea retail chain Chai Kings as it raised $1 million (which come to approximately 7 crores in Indian currency) from an angel investment group, The Chennai Angels. Other investors such as Hyderabad Angels and TiE India Angels also associated themselves with this activity.
As an active angel funding house, The Chennai Angels observed the potentially and objective of the Chai Kings and for the second time invested on it.

It was in the year 2018 when Chai King for the first time raised a funding of INR 2 crores from the same angel investor.

Referring to this event, eJahabar Sadique, CEO and co-founder, Chai Kings stated, “This funding round will help us expand into newer cities. We hope to enter Coimbatore, Bengaluru and Hyderabad in this current year and get closer to our target of 100 stores in 5 years. Apart from expansions, bulk of this funding will be utilized to strengthen our operations and supply chain management.”

Chai King has a defined blueprint set up before. It intends to open four stores in Hyderabad and three in Coimbatore. Overall, by the end of next month, it hopes to have 50 stores in three cities.
Piyush Bhandari who leads the investment in TCA apprised, “The new investment reiterates our commitment towards building a sustainable and scalable Indian QSR.”