Chennai Angels pumps Rs 7 crore into Chai Kings

The Chennai Angels (TCA) on Tuesday announced an investment of $1 million (Rs 7 cr) in Chai Kings-the city’s largest chai retail chain along with Hyderabad Angels and TiE India Angels, who have also participated in this round.
Chennai Angels pumps Rs 7 crore into Chai Kings

Chennai

“We are 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 lead 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, Bengaluru 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, Chai Kings.

Chai Kings, founded in 2016, is one of Chennai’s major chai retail chains operating with 40 stores. Chai Kings offers a range of chai in many flavours. Chai Kings is expanding rapidly with the target of 100 stores in 5 years. Sadique, along with co-founder Balaji Sadagopan and had started the first outlet after working as IT professionals for 10 years.

They had entered the world of entrepreneurship by picking up franchise outlets of Green Trends and Subway.

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