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Chaayos raises $12 mn from Saif Partners, others in Series B round

This infusion of funds will be used to strengthen its foothold in the already existing markets by introducing more cafes

ANI  |  New Delhi 

Chaayos

Cafe chain, on Thursday announced raising funds worth $ 12 million in of funding from venture capital firm SAIF Partners, and

The investment which aims to fuel growth plans, will enable to expand its retail footprint in existing markets of Delhi-NCR, Mumbai and Chandigarh.

This infusion of funds will be used to strengthen its foothold in the already existing markets by introducing more

Over the last five years, has established itself as a fast-casual dining chain, with a steady growth of over 52 across 7 cities. The company also witnessed a healthy contribution from its deliveries (20%) and food business (45%), to the overall company revenues.

"Within a short span of its launch, the brand has grown exponentially with 42% MoM customer repeat business. As we embark on our next phase of growth, we aim to further consolidate our presence in existing markets with new outlets across cities," said founder and CEO Chaayos,
 

"We are delighted to be part of Nitin and the team's journey of creating a truly scalable and consistent beverage and food experience platform. Their technology and innovation and customer experience driven approach is distinctive in this fast growth space," said managing partner, SAIF Partners, Deepak Gaur.

Adding to this, Jeff Yam, principal investor, said, "We have been actively tracking the Indian consumer landscape and Chaayos is well aligned with our thesis.

"We are impressed by the founders' approach to building a business centered around creating exceptional customer experiences, whilst scaling healthily and profitably," added Jeff.

Earlier, Chaayos had raised $ 7 million from The company continues its investments in technology, and commitment to deliver the best customer service, Chaayos created its first-of-its-kind IOT enabled chai machine called Chai Monk.

First Published: Thu, September 06 2018. 17:05 IST
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