Business
Chaayos raises $53 mn to expand stores, hire talent

New Delhi, June 23
Leading "chai" (tea) cafe chain Chaayos on Thursday announced it has raised $53 million in Series C funding led by Alpha Wave Ventures. The company said it will use the money for tech-enhancement, hiring and store expansion.
The latest round saw participation from existing investors Elevation Capital, Tiger Global and Think Investments.
Founded in 2012 by Nitin Saluja and Raghav Verma, Chaayos runs 190 stores across six cities and plans to add 100 more by the end of this year.
a
"The latest capital raise will help us deepen our technology investments to further enhance our guest experience and build a ubiquitous brand that is an integral part of Indian society over decades to come," said Saluja, Founder and CEO.
"We are also continuously on the lookout to hire talent to handle the scale that we aspire for," he added.
At Chaayos, people can personalise their cup of tea in 80,000 combinations with IoT-enabled tea bots called 'Chai Monks',
Which started off as a niche use case, Chaayos online Chai deliveries now account for 45 per cent of revenues, said the company.
"A unique combination of innovations in food and drinks offerings, strong leverage of technology solutions and obsession over customer satisfaction has positioned Chaayos as a clear leader in their space," said Deepak Gaur, Partner, Elevation Capital.
"We are impressed by the team's customer obsession, which is visible in its best in class unit economics and customer NPS," added Navroz Udwadia, Co-founder, Alpha Wave Global.

10 hours ago
US: Four killed, 14 injured in shooting outside nightclub in Chicago

13 hours ago
US House Republicans advance 'Big Beautiful Bill' to final vote; Trump gets vexed at rebels, says ' MAGA not happy'

13 hours ago
Federal judge blocks President Trump's asylum ban at the Southern border

13 hours ago
Skydiving aircraft crashes during takeoff in New Jersey, five injured

14 hours ago
US student visa applications have opened, says State Department official

14 hours ago
Maha govt allows transportation of excavated sand for 24 hours with valid permit

14 hours ago
Kerala Ministers' misjudgment delays rescue, woman dies under collapsed hospital building

15 hours ago
Liverpool and Portugal forward Diogo Jota and his brother die in car accident

15 hours ago
Alia Bhatt is beyond words after seeing Ranbir Kapoor as Lord Ram in ‘Ramayana’

15 hours ago
Sunny Deol on playing Lord Hanuman in Ramayana: ‘Honoured to be part of a story that has shaped generations’

15 hours ago
Ahmed Khan remembers Saroj Khan on her death anniversary: ‘Losing her was deeply personal’

15 hours ago
Rajkummar Rao, Patralekhaa soak in the beauty of New Zealand

15 hours ago
Ranvir Shorey criticizes MNS workers for assaulting a Gujarati shopkeeper for not speaking Marathi