Current situation

From its first pilot store in Bangalore in April 2010 , Chai Point has quickly grown to become the go-to brand for a perfectly brewed cup of Chai , selling over 300,000 cups a day.

Chai Point is located in eight cities - Bengaluru, Delhi, Gurgaon, Noida, Mumbai, Pune, Hyderabad and Chennai.

Financing

In 2015 , it raised nearly $ 10 million in Series B funding led by Eight Roads Ventures , DSG Consumer Partners and Saama Capital .

In April 2018 , Chai Point raised a $ 20 million Series C fund led by Paragon Partners . The lead investor was the well-known venture capital firm Paragon Partners, and the participating investors included EightRoads , Saama Capital , and DSG , which had previously invested in the company . After the completion of this round of financing, Siddharth Parekh, senior venture capital partner of Paragon Partners , will join the board of directors of Chai Point . In addition, the company plans to use this latest financing to increase its automated hot drink tea dispensing business and support the sales and marketing services of its website boxC.in to create the next wave of business growth momentum.

Development History

In April 2010 , the first store opened in Bangalore.

In July , the second store opened.

In August , the third store opened.

In December , paper prepaid cards were launched.

In 2012 , the tenth store opened.

In June 2014 , Chai-on-Call was launched ; website and mobile app were launched.

In October , a mobile app-based prepaid card will be launched.

In February 2016 , PrioriTea mobile wallet and rewards program was launched.

In August , boxC.in was launched. boxC.in offers 4 varieties of fresh tea (classic tea, masala tea, elaichi tea and ginger tea), hot chocolate, milk and freshly ground coffee.

In October 2017 , the company began distributing tea through the e-commerce platform Amazon .

References