Gurgaon based Chaayos raises $5 million from Tiger Global, Ola founders

Sunshine Tea House Pvt. Ltd, which owns the small tea chain Chaayos brand, has raised $5 million (Rs 32 crore) in its Series A round of investment from Tiger Global. Bhavish Aggarwal and Ankit Bhati, cofounders of Ola cabs also participated in this round.

Chaayos was born in November 2012 out of the contemporary interpretation of the chai adda, serving freshly made chai. Chaayos offers 12 varieties of tea to the consumers.

Earlier, Chaayos raised Rs 2 crore fund led by Zishaan Hayath from Powai Lake Ventures.

Chaayos was founded by Nitin Saluja, an IIT Bombay graduate. His love for chai led him to start Chaayos. Nitin is also a serial entrepreneur as he also co-founded a robotics education company Think Labs at IIT Bombay, whcih si today valued at $10 million. He worked at Opera Solutions, a consulting firm for 5 years.

Chaayos owns eight cafe outlets across Delhi NCR, four in Gurgaon, two in Noida and two in Delhi.

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