Tea cafe chain Chaayos on Thursday said it has raised $53 million (around Rs 414 crore) for tech-enhancement, hiring and store expansion as it plans to add 100 stores by the end of this year. The company said the funding round was led by Alpha Wave Ventures with participation from all existing investors -- Elevation Capital, Tiger Global and Think Investments.

In February 2020, the company had raised $21.5 million from investors led by Think Investments. The company previously said it was looking at expanding its offline presence to as many as 300 outlets across new geographies. “The post-pandemic recovery has been good, and the company plans to add new categories and serve more people through its line of packaged foods in retail stores and cafés,” the source added. Founded in 2012 by Nitin Saluja and Raghav Verma, Chaayos is a chain of tea cafes spread across New Delhi, NCR, Mumbai and Bengaluru.

Chaayos Raises $53 Million For Business Expansion

Chaayos Raises $53 Million For Business Expansion

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