Chaayos Raises $2 Mn From Tiger Global Management
Chaayos, run by Sunshine Teahouse Pvt Ltd, has raised around $2 million from its existing investor Tiger Global Management in an internal funding round, as per the source Mint.
The funds will be utilised to expand tea cafe chain of Sunshine Teahouse, running under the brand name Chaayos.
Gurgaon based Chaayos was founded by Nitin Saluja and Raghav Verma in November 2012, and has now set up its own tea cafes in cities- Delhi-NCR, Mumbai, Chandigarh and Karnal.
“Chaayos has recently raised funds from its main investor Tiger Global. The funds were raised through a rights issue, which was closed a few weeks ago. Tiger Global invested close to $2 million in the company in the round. A few individuals also participated in the round,” a person familiar with the matter said.
In the current...