Chai Kings Secures $3 Mn In Series A Round

Chennai-based Chai Kings, a chai retail chain, has raised $3 million (Rs 24 crore) in its Series A funding round from A.V. Thomas and Co. (AVT).

Earlier in January 2020, the startup raised $1 million in its seed round from Chennai Angels (TCA), Hyderabad Angels and TiE India Angels.

As part of this round, The Chennai Angels (TCA) are partially exiting with significant returns.

The proceeds will be used to speed up its expansion, improve its product range and strengthen its supply chain. It will also focus on customer engagement and boosting operational efficiency.

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“We are thrilled to welcome A.V. Thomas and Co. as our investor and partner in this journey. Their deep-rooted expertise in the tea industry aligns perfectly with our vision of serving premium chai experiences at an affordable cost across India,” said Jahabar Sadique, Co-Founder and CEO of Chai Kings.

“This funding will enable us to scale our operations, open new stores, innovate our offerings and bring our unique chai experience to an even larger audience across India,” he added.

“Chai Kings has built a strong brand and loyal customer base. We see tremendous potential in their growth trajectory and are excited to be a part of their journey,” said Ajit Thomas, Executive Chairman of AVT.

About Chai Kings

Founded in 2016 by Jahabar Sadique and Balaji Sadagopan, Chai Kings provides a premium and hygienic chai experience, offering a variety of tea blends with a focus on quality, sustainability and customer satisfaction.

The brand operates 57 stores in Chennai, Hyderabad and Coimbatore, known for its high-quality tea, eco-friendly packaging and customer-focused service.

Chai Kings expects to achieve Rs 48 crore in revenue by the end of FY25, with a positive EBITDA. The company plans to double its revenue over the next two years while staying profitable.

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