The Chennai Angels (TCA) on Tuesday announced an investment of 1 million USD in Chai Kings-Chennai’s largest Chai Retail chain along with Hyderabad Angels and TiE India Angels, who have also participated in this round.
“We are very excited to partner with Chai Kings in the bridge round. We believe the company has a strong leadership team with immense potential to grow and expand across India. The new investment reiterates our commitment towards building a sustainable and scalable Indian QSR,” said Piyush Bhandari who led the investment from TCA.
“We are happy with the success and progress of our brand “Chai Kings” in Chennai and this funding round will help us expand into newer cities. We hope to enter Coimbatore, Bangalore and Hyderabad in this current year and get closer to our target of 100 stores in 5 years. Apart from expansions, bulk of this funding will be utilised to strengthen our operations and supply chain management.” said Jahabar Sadique, CEO of Chai Kings.
Chai Kings, founded in 2016, is Chennai’s largest Chai Retail chain operating with 40 stores. Chai Kings offers a sumptuous range of chai in exotic flavours, in the most hygienic ambience and at perfectly justifiable prices. Chai Kings also delivers Chai at your doorstep anywhere in Chennai, uses food grade use-and-throw heat retaining chai flask for safe consumption, also ensuring the Chai is piping hot for at least an hour. With the vision to be the favourite chai place across India, Chai Kings is expanding rapidly with the target of 100 stores in 5 years.
The Chennai Angels is one of India’s most active angel investing groups. Founded in the year 2007, it comprises successful entrepreneurs and business leaders with a track record of starting and scaling large enterprises. Additionally, several seed and venture capital firms hold institutional membership in the group. Though it is located in Chennai, TCA’s investing members and portfolio investments are not limited by geography. Unusually for an angel investing group, TCA has a diversified portfolio that goes well beyond a restrictive tech focus, reflecting the diversity of its members’ interests. TCA portfolio companies benefit from the collective expertise of its members.