Chai Point Raises $20 Million Series C Funding
Bengaluru based Popular beverage chain Chai Point raises USD 20 million Series C funding round, led by Paragon Partners, which will be allocated towards spurring its growth in India.
Founded in 2010, Chai Point is an organized brand in the Rs.1.5 Lakh crore tea market targeting one billion Indians. With the average per capita consumption of the beverage increasing at a steady rate of 20-30 percent, the market is ever expanding.
The company, who offers nearly 0.3 million cups of Chai a day across all its channels, stores, delivery, and dispensers is poised to do five-fold more in the next three years.
"This funding round is primarily aimed at further strengthening the brand's multi-channel go-to-market. A substantial portion of our investment proceeds will go towards deepening our ...