13 April 2024 – According to persons with knowledge of the situation, ETRetail, specialty coffee operator Blue Tokai, is in advanced discussions to conclude fresh financing at a value between USD 180 and $200 million. The amount of funding raised is yet unknown, but the company’s value will more than quadruple as a result of the current round.
In a Scrics B round held in January of last year, Blue Tokai raised USD 30 million at a stated value of over Rs 650 crore. Blue Tokai did not reply to ETRetail’s questions. Apart from 12 Flags Group, Blue Tokai’s current investors may also take part in the new fundraising effort. It is still being determined whether a new investor will join the group.
Anicut Capital, Si Ventures, DSP Blackrock, Negen Capital, Mauryan Capital, A91 Partners, and White Whale Ventures are among the firm’s investors. Last year, Bollywood celebrity Deepika Padukone made an undisclosed investment in the firm. The revenue for Blue Tokai in FY23 was Rs 129 crore. During that time, the business declared a loss of Rs 42 crore.
Conclusion
In Delhi-NCR, Mumbai, Bengaluru, Hyderabad, Kolkata, Chandigarh, Mohali, and Pune, the coffee chain operates more than 100 locations. Investors have been actively observing the coffee market.
