Tiger Global-backed tea cafe chain Chaayos has raised USD 12 million (approx Rs 85 crore) in funding from venture capital firm SAIF Partners, Integrated Capital and Pactolus.
Previously, Chaayos had raised USD 7 million from Tiger Global. Chaayos is the only non-tech investment of Tiger Global.
"This investment (series B round of funding) will fuel growth plans of Chaayos as it expands its retail footprint in the existing markets of Delhi-NCR, Mumbai and Chandigarh," the company said in a statement.
Within a short span of its launch, the brand has grown exponentially with 42 per cent month-on-month customer repeat business, it said.
"As we embark on our next phase of growth, we aim to further consolidate our presence in existing markets with new outlets across cities," Chaayos Founder and CEO Nitin Saluja, said.
Chaayos has over 52 cafes across seven cities.
Disclaimer: No Business Standard Journalist was involved in creation of this content
You’ve reached your limit of {{free_limit}} free articles this month.
Subscribe now for unlimited access.
Already subscribed? Log in
Subscribe to read the full story →
Smart Quarterly
₹900
3 Months
₹300/Month
Smart Essential
₹2,700
1 Year
₹225/Month
Super Saver
₹3,900
2 Years
₹162/Month
Renews automatically, cancel anytime
Here’s what’s included in our digital subscription plans
Exclusive premium stories online
Over 30 premium stories daily, handpicked by our editors
Complimentary Access to The New York Times
News, Games, Cooking, Audio, Wirecutter & The Athletic
Business Standard Epaper
Digital replica of our daily newspaper — with options to read, save, and share
Curated Newsletters
Insights on markets, finance, politics, tech, and more delivered to your inbox
Market Analysis & Investment Insights
In-depth market analysis & insights with access to The Smart Investor
Archives
Repository of articles and publications dating back to 1997
Ad-free Reading
Uninterrupted reading experience with no advertisements
Seamless Access Across All Devices
Access Business Standard across devices — mobile, tablet, or PC, via web or app