Specialty coffee chain Blue Tokai in talks to raise funding at over $180 million valuation: Report

Last week, Specialty coffee chain Blue Tokai raised an undisclosed amount in funding from 12 Flags Group, a consumer fund set up by Rakesh Kapoor, former global chief of Reckitt Benckiser. 

“Blue Tokai is a pioneer in India’s specialty coffee market, transforming the coffee experience for our country. Their commitment to providing outstanding specialty coffee and a strong cafe culture is consistent with our aim for this category,” 12 Flags Group said on LinkedIn.

“We’re excited to announce that 12 Flags has joined our cap table. They bring extensive experience in building brands and distribution and we look forward to having them be part of our journey in creating one of India’s leading coffee and bakery companies,” said Matt Chitharanjan, Co-Founder, Blue Tokai Coffee Roasters.

Raising $40 million at a $160 million valuation 

Now, a new report has emerged stating that the startup is in talks to raise another round of funding at $160 million valuation. While the exact size details remain undisclosed, A report from The Arc said Blue Tokai is negotiating to raise $40 million, which is higher than the $30 million round it secured in January last year.

Last September, Deepika Padukone-founded Ka Enterprises invested an undisclosed amount in Blue Tokai Coffee Roasters.

Blue Tokai Coffee's presence 

Founded in 2013 by Matt Chitharanjan, Namrata Asthana, and Shivam Shahi, Blue Tokai operates in India and Japan with 4 roasteries, over 80 physical outlets across major Indian cities and regions, including Delhi NCR, Mumbai, Bangalore, Hyderabad, Kolkata, Chandigarh, Mohali and Pune as well as regular pop-ups in Tokyo.