Indian tea chain raises US$1 million from private funding round
Its CEO says they want to open 100 stores on or before 2025.
Chennai-based Chai Kings raised US$1 million in pre-Series A bridge round, The Hindu has reported.
Private investment firms The Chennai Angels, Hyderabad Angels and TiE India Angels, backed the tea chain’s plan to expand in other Indian cities, including Bengaluru and Hyderabad.
The report quoted Chai Kings CEO Jahabar Sadique as saying that they intend to open 100 stores by 2025.
Since it opened in 2016, the tea brand has been earning US$14,810 a month from selling teas across its 40 stores, the report highlighted.
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