Indian coffee e-tailer Blue Tokai Coffee Roasters has raised Rs 5.42 crore in a fresh round of funding from one of its existing investors Snow Leopard Technology Ventures which is a venture fund that provides seed capital to the internet and technology businesses in India. The company plans to use raised capital for expansion and technological enhancement.
This is the second round of funding raised by the company within 18 months. Earlier, the company has raised has raised an undisclosed amount in its seed round funding led by Snow Leopard Ventures with participation from Bold Ventures.
Blue Tokai Coffee Roasters was founded in 2012 by Matt Chitharanjan and Namrata Asthana. The company sources single-estate Arabica coffee beans from premium Indian coffee estates, roasts them on order, and sells them online direct to consumers and offline to leading cafes, restaurants and hotels across the country. It is also considered to be first coffee retailer in the country to introduce ‘Profile Roasting’, a process to extract supreme flavour from the bean.
The startup last year set up a roastery and cafe in Delhi and further aims to use raised capital to set up more roasteries in other major cities across India.
The Delhi-based firm claimed to touch Rs 2 crore figure from its sales and in last three years, the company’s sales have been doubling every year.
In August last year, Bangalore-based online on-demand coffee shop, DropKaffe, raised $300K in a funding round led by Manish Singhal and P39 Capital. Angels from the U.S., India and Singapore also participated in the round.