Verlinvest acquires significant stake in Blue Tokai with USD 35 million investment
- Partnership to accelerate brand’s growth across geographies and product categories
- Funding round in partnership with Anicut Capital and A91 Partners
Mumbai, August 31, 2024: Verlinvest, a global, family-backed evergreen investment firm, has led a significant investment of US$35 million in Blue Tokai, India’s leading specialty coffee and bakery brand. This strategic partnership will empower Blue Tokai to deepen its presence in existing metro markets and expand into new Tier I & II cities in India over next three years. The Series C funding round also saw participation from existing investors Anicut Capital and A91 Partners.
Founded in 2013, Blue Tokai is pioneering India’s specialty coffee movement. Led by co-founders Matt Chitharanjan, Namrata Asthana and Shivam Shahi, Blue Tokai has more than doubled its store count in the last year to 130 outlets currently, delivering a range of specialty coffee products and artisanal bakery goods. The newly acquired funds will be used to expand to over 350 locations in the next 30-36 months, drive new product innovation, and expand to new channels.
Arjun Anand, Managing Director & Head of Asia, Verlinvest said, “We are thrilled to partner with Blue Tokai in their mission to bring specialty coffee to millions across India. Matt, Namrata, and Shivam have brilliantly crafted a cult brand known for its exceptional products and customer experience. Together, we are committed to elevating Blue Tokai to new heights, creating India’s leading coffee chain and delighting consumers with unparalleled quality and service.”
Matt Chitharanjan, Co-founder and CEO, Blue Tokai said, “With this latest funding, we have the opportunity to bring our passion for coffee to even more people. We will utilize these funds to accelerate our expansion across all channels – from our own cafes to B2B and B2C platforms. By introducing innovative coffee product offerings through new producers, we will enable ourselves to reach new consumers with varied offerings and continue delivering consistent coffee experiences. Our focus remains to provding exceptional coffee experiences while fostering sustainable growth.”
Verlinvest has a proven track record of successfully scaling consumer brands in India, including Lahori, Epigamia, Heads Up For Tails and Wakefit. The firm’s investment in Blue Tokai demonstrates the ongoing commitment to the Indian market, which presents strong growth opportunities in the consumer ecosystem. This partnership is also further illustrative of Verlinvest’s focus on supporting high-quality F&B brands globally, including notable investments with Insomnia Cookies and Tony’s Chocolonely.
About Verlinvest
Verlinvest is an international, family-backed evergreen investment company. We identify inflection points in consumer behaviors and partner with the businesses that are driving these consumer revolutions forward while having a positive impact. Established in 1995, with offices in Brussels, London, New York, Singapore, and Mumbai, Verlinvest focuses on the FMCG, health, consumer technology and lifestyle categories, investing across three strategies: Platform, Growth & Venture. The company has over €2bn in AuM and counts brands such as Oatly, Vita Coco, Tony’s Chocolonely, BYJU’s, Purplle.com, Mutti and Who Gives A Crap among our portfolio, alongside alumni Chewy.com, Vitaminwater and Remy Cointreau.
About Blue Tokai
Established in India in 2013 as a roastery to cater to a small community of artisanal coffee seekers, Blue Tokai Coffee has grown into a leading specialty coffee company in the country. Renowned for its commitment to sourcing the finest beans from local producers, Blue Tokai has cultivated a new appreciation for coffee among Indian consumers. With a strong focus on quality, sustainability, and exceptional customer experience, the brand has expanded to over 130 cafés, offering its products online, through B2B channels, and with a steady vision to triple its offline presence in the next two years. By offering a curated selection of freshly roasted coffee, brewed to perfection, Blue Tokai continues to shape the specialty coffee landscape in India.
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