Published:
Chaayos owner raises US$21.5 million investment
The company eyes to bring its total store count to 300 across India.
Chaayos owner Sunshine Teahouse has raised $21.5 million in a Series B2 funding round, Livemint has reported.
The investment round was led by the US-based investment firm Think Investments. Other investors include Hong Kong-based Integrated Capital and ex WhatsApp CBO Neeraj Arora.
Founder and CEO Nitin Saluja said they plan to bring their tea brand’s total store count to 300 across major Indian cities.
Chaayos uses its own Internet-of-Things-enabled tea machine called Chai Monk.
Currently, there are approximately 80 Chaayos stores located in Delhi, Mumbai and Bengaluru.
Read the full report here.
