Blue Tokai, a leading specialty coffee and bakery brand in India, has secured $35 million (around Rs.293 crore) in a Series C funding round.

The funding round was led by Verlinvest, a global, family-backed evergreen investment firm, with contributions from existing investors Anicut Capital and A91 Partners.

Verlinvest, with offices in Brussels, London, New York, Singapore, and Mumbai, specializes in FMCG, health, consumer technology, and lifestyle sectors.
Blue Tokai intends to use the funds to strengthen its presence in existing metro markets and to enter new Tier I and II cities across India over the next three years.

Currently operating 130 outlets, the company aims to grow to over 350 locations, foster new product innovations, and explore additional distribution channels.

Mr. Matt Chitharanjan, Co-founder and CEO of Blue Tokai, stated that with the latest funding, the company has the opportunity to extend their passion for coffee to a broader audience. He mentioned that the funds would be used to speed up their expansion across various channels, including their own cafes, B2B, and B2C platforms.

Chitharanjan stated that the company plans to introduce innovative coffee products through new producers to expand its customer base and offer a broader range of options.

He also emphasized that the company's focus is on delivering exceptional coffee experiences while promoting sustainable growth.

Founded in 2013 by Matt Chitharanjan, Namrata Asthana, and Shivam Shahi, Blue Tokai now offers a variety of specialty coffee products and artisanal bakery items.

Mr. Arjun Anand, Managing Director & Head of Asia at Verlinvest, expressed enthusiasm about partnering with Blue Tokai, stating, "We are excited to support Blue Tokai in their mission to deliver specialty coffee to millions across India. Matt, Namrata, and Shivam have expertly built a renowned brand known for its exceptional products and customer experience. Together, we are dedicated to advancing Blue Tokai to new heights, establishing it as India’s leading coffee chain and providing consumers with unmatched quality and service."

The COO of Blue Tokai, Mr Shivam Shahi commented that, there is a significant growth in the market of a good quality coffee and bakery products, and this newly earned proceeds would help to uplift the further growth of the company.
He also mentioned that, they are steadily adding 5 cafes each month for over a year and the raised fund would help to meet their three-year target of 350+ cafes in India.