Specialty coffee startup Blue Tokai raises seed funding
Specialty coffee startup Blue Tokai Coffee Roasters has raised an undisclosed amount in the first seed financing, led by Snow Leopard Ventures with participation from Bold Ventures. The three-year-old startup which recently set up a roastery and café in Delhi, aims to use funds to add more roasteries in other major cities across India, starting with Mumbai in mid-2016.
The funds will also be used to launch new products and build a robust and sustainable technological interface, which would be able to provide better customer experience, the online speciality coffee retailer said in a statement.
"The capital infusion comes at an exciting phase of our journey. We have already built a loyal and steadily growing clientele over the last few years and are now ready to expand the market and bring the specialty coffee experience to a whole new set of customers," the companys cofounder Matt Chitharanjan said.
He added that investors like Snow Leopard Ventures and Bold Ventures bring with them exactly the kind of knowledge and expertise that we need for our next phase of growth. The company is expected to realise Rs 2 crore from its sales in the current financial year and in last three years its sales have been doubling every year, Chitharanjan added.
"We believe they are uniquely positioned to open up and carve out the specialty coffee market in India and we are very excited to partner with them on their journey," Chris Kolenaty from Snow Leopard Ventures said. By sourcing beans directly from growers and doing the coffee roasting in-house, Blue Tokai retains control over the quality of its coffee.