A91 Partners-led Series B investment round for coffee company Blue Tokai Coffee Roasters saw a $30 million raise. A number of family offices, Grand Anicut Fund, 8i Ventures, and other current investors joined White Whale Ventures in the round.
The Series B fundraising, according to the business, represents the biggest investment round to date in the Indian speciality coffee market. A pre-Series B financing headed by Anicut Angel Fund raised $2 million in August 2021.
With this investment, the company plans to scale its operations even further and increase its market share in speciality coffee markets throughout the world, according to a statement from Blue Tokai. Along with aiding independent small-scale farmers, the company is trying to introduce new FMCG items.
Top corporations, upscale hotels and restaurants, co-working spaces, and other businesses have teamed with Blue Tokai. The business asserts to operate in Japan and to have 4 roasteries in addition to more than 60 physical locations, including those in Delhi (NCR), Mumbai, Bengaluru, Kolkata, Chandigarh, and Pune.
Blue Tokai intends to increase the number of outlets by 200 over the following three years, bringing the total to well over 250 cafés. According to the business, it also intends to make investments in its B2B division and to launch vending machine-based solutions.
In addition to others, it is in competition with Rage Coffee, Third Wave Coffee Roasters, Slay Coffee, Sleepy Owl, and Seven Beans Co.
From Rs 40.96 crore in FY21 to Rs 74 crore in FY22, Blue Tokai’s operational income increased by 80.6%. In FY22, losses increased 72.2% to Rs 12.33 crore from Rs 7.16 crore, according to the annual financial statement filed with the RoC. The company’s growth in FY21 was flat compared to FY20 when it lost 9.47 crore rupees on revenue of 40.2 crore rupees.
The Gurugram-based business claims to be generating revenues at a run rate of Rs 150 crore for the current fiscal year and plans to become profitable by the next year.
