On Wednesday, Blue Tokai has announced that it has raised Rs 17 crore in its pre-Series B bridge round led by Anicut Angel Fund. The specialty coffee startup plans to utilize the current funding in launching new products, international expansion, and marketing.
Blue Tokai Raises Fresh Fundings
Specialty coffee startup Blue Tokai Coffee Roasters’ business was badly affected in covid due to the closure of Cafes. The startup used to provide quality coffee to these Cafes. The pandemic hurts the supply chain of Blue Tokai.
To revive its business again after the second covid wave, the startup has revealed on Wednesday that it has raised Rs 17 crore in funding, led by Anicut Angel Fund. As per Blue Tokai’s claims, other existing and new investors also actively took part in the pre-series B bridge round.
How startup will utilize the current funding? Answering this question, Blue Tokai confirmed that the firm plans to invest funds in launching new products, improving the coffee quality further, and starting international operations. The coffee startup also wants to invest in new marketing methodologies for the visibility of the products.
About Blue Tokai
Launched in 2012, the startup is on a mission to source, roast, and highlight specialty-grade Indian coffee against the low-quality filtered or instant coffee available in India. The firm started selling its products via B2B models online and has a strong presence in Delhi NCR, Mumbai, Kolkata, and Hyderabad.
The firm has raised over Rs 76 crore to date from existing investors including Snow Leopard, 8i, Kothari Family (DSP), Angellist, and HNIs like Aditya Ghosh (former IndiGo president) and others.
“We’ve been omnichannel in our approach since the very early stages of our business. Our mission has always been very simple – make high-quality coffee more accessible – regardless of where, when, and how you drink your coffee, we want to give the option of having a high-quality, Indian coffee,’ Blue Tokai Coffee Roasters co-founder Matt Chitharanjan said.
Blue Tokai was fortunate to already have a strong D2C presence and by refocusing its efforts on online sales channels, it has been able to grow its revenue nearly 50 percent more than the pre-COVID peak. The funding startup received demonstrates that it saw the pandemic as an opportunity to build a base for the next leg of growth. And the startup is grateful to partner with investors who share its vision.