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Sep, 16 2015

Chai Point raises $10 mn from group of investors

In the last one month the Indian food business has seen lots of tea chain raising funds with players like Chaayos, Tea Trail, Tea Box and now Chai Point gaining the investors attention.

Chai Point, owned by Mountain Trail Foods, has raised about $10 million from Eight Roads Ventures, DSG Partners and existing partner Saama Capital.

“With its focus on operations, supply chain and consumer experience, Chai Point is well positioned to emerge as one of the leading national brands in this space,” said Kabir Narang, MD, Eight Roads Ventures.

According to the company they will use the fund raised for expansion of the outlets, hiring, and building technology. The group has also raised a seed round of funding followed by $2 million round from Saama Capital.

Started by Amuleek Singh Bijral Chai Point operates in the same segment as Chaayos, Cha Thela, Tea Trail and Tea Box.

In the last one month the Indian food business has seen lots of tea chain raising funding with players like Chaayos, Tea Trail, Tea Box and now Chai Point gaining the investors attention.

“Tea consumption in India is eight-nine times that of coffee consumption. Chai Point’s goal is to create an aspirational brand for its young consumers for whom tea drinking is a part of their daily routine. We believe in building technology to rocket our accessibility and convenience goals for the brand and now will also be deploying a bulk of the investment proceeds towards this,” shared Bijral.

Chai Point has also built its own cloud-based software platform called Shark which connects the point of sale, supply chain, employee management, delivery system, and auditing etc. in one place.

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