Funding Alert

Chennai-Based Chai Waale Raises Rs 5 Crores From Marquee Angel Investors

• ByStartupStory     |    July 30, 2021

Chai Waale, Chennai-based tea brand has raised Rs 5 crore in funding from marquee angel investors, including Sunil Sethia, Sunil Kumar Singhvi, Manish Mardia (UNI-M Network) and celebrities Nayanthara and Vignesh Shivan. Furthermore, private organisations such as the online trading platform of unlisted shares Unlisted Kart LLP and Chennai-based Conscience multi-family office, among other investors also participated in the round.

Chai Waale was set up in 2018 by Vidur Maheswari. The brand has established a strong footing since its inception in the mid-range beverage providers segment across Chennai, with 20 outlets in strategic locations and customer-oriented service. The QSR startup serves a range of specialty teas, including milk, black, herbal, and iced tea variants, along with a variety of savouries such as sandwiches, noodles, poha, and khakhras. Chai Waale has added soups, momos, and an additional range of sandwiches to its menu, and new flavours of ice tea, desserts, and some quick items are in the pipeline.

The home-grown QSR brand is seeking to set shop in places with high footfalls, including metro stations and malls. Founder Vidur Maheswari said, “We value our investors and are indebted for their solid support. We are ever grateful to our existing investors who have shown so much faith in the brand and have been an integral part of this round of funding. About 80 percent of the current funding will be utilized in physical store expansion. We aim to have 35 fully functioning stores by next year. The rest of the funds will be earmarked for marketing, expansion of back-end systems, and managerial team.”  “We are bullish about our growth trajectory in the upcoming year, given the robust set of investors”, Vidur further added.

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