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Blue Tokai Coffee Roasters is in advanced talks to raise between INR 1,000 Cr and INR 1,200 Cr, with Singapore-based Temasek Holdings and ChrysCapital competing to lead the round. The potential transaction values the coffee chain at roughly INR 3,550 Cr to INR 3,700 Cr. The deal could see one of the two investors emerge as the company's single largest shareholder, or the stake could be split between them to diversify the cap table. The firm's existing investors include Verlinvest, A91 Emerging Fund, Waterfield Fund, and 12 Flags.
Founded in 2013 by Matt Chitharanjan, Namrata Asthana, and Shivam Shahi, the New Delhi-based company operates a chain of cafes and retails freshly roasted coffee beans. The firm plans to use the fresh capital to triple its store network in India, expand its presence in Japan and the UAE, and offer an exit opportunity to existing seed investors. Blue Tokai has reported monthly EBITDA-positive results for the last six months and currently operates 240 outlets, with plans to scale up to 800 by fiscal year 2030 — including 120 new stores in the current financial year.
Between June 2015 and April 2026, Blue Tokai raised about USD 124 M from investors including Snow Leopard, 8i Ventures, Mauryan Capital, Negen Capital, A91 Partners, Anicut Capital, Dovetail Global Fund, MGA Ventures, and White Whale Ventures, among others.
