Blue Tokai raised INR 17 Cr in the pre-series B bridge round. The funds will be used for product development, agricultural interventions, marketing and international expansion
Blue Tokai is a D2C specialty coffee retailer offering coffee beans sourced from premium coffee plantations in India
The startup’s online channels increased their revenue by more than 50% from pre-crisis levels
Delhi-based online specialty coffee retailer Blue Tokai Coffee Roasters raised INR 17 Cr ($ 2.28 million) in a pre-Series B bridge round led by Anicut Angel Fund (Anicut arm Capital) with the participation of other new and existing investors.
The startup will use the funding to launch new products, execute interventions at farm level to improve quality, expand internationally and for commercialization.
Founded in 2012 by Matt Chitharanjan, Namrata Asthana and Shivam Shahi, Blue Tokai sources Arabica coffee beans from premium Indian plantations, roasts them to order and sells them online direct to consumers and offline to major coffee shops, restaurants and hotels. Across the country.
The company started selling its coffee online and through B2B partnerships, then sought to provide its coffee at its cafes across the NCR of Delhi, Mumbai, Kolkata and Hyderabad.
âWe have been omnichannel from the very beginning of our business. Cafes were an important part of this mission, but like many brands, Covid-19 completely changed the economy of this business. We have already been fortunate to have a strong D2C presence, and by refocusing our efforts on our online sales channels, we have been able to increase our revenues by almost 50% more than our pre-covid peak â, a declared Chitharanjan.
The Indian coffee market is currently valued at $ 1.46 billion and is expected to reach $ 2.03 billion by 2025, according to a Intelligence from Mordor report.
The Indian coffee market is dominated by traditional players, such as NestlÃ©, Hindustan Unilever, Tata Coffee and others.
But according to one Report Inc42, India’s online coffee market, which is expected to reach $ 203 million by 2025, is dominated by players like Blue Tokai, SLAY Coffee, Rage, and Sleepy Owl.
To stay ahead of the game, in addition to launching experimental coffee batches, the company is developing ready-to-brew and ready-to-drink products to make it easier for people to experience the variety of flavors that specialty coffee offers.
In addition, the company is also running several projects to enable more small producers to improve their quality and, in turn, to reap the premium for which specialty coffee sells. 6:42 p.m.
Update | October 21, 6:42 p.m.
Updated coffee market size