Chennai: The Chennai Angels (TCA) announced an investment of $1 million in Chai Kings-Chennai’s largest Chai Retail chain along with Hyderabad Angels and TiE India Angels, who have also participated in this round.
‘We are very excited to partner with Chai Kings in the bridge round. We believe the company has a strong leadership team with immense potential to grow and expand across India. The new investment reiterates our commitment towards building a sustainable and scalable Indian QSR,’ said Piyush Bhandari who lead the investment from TCA.
‘We are happy with the success and progress of our brand Chai Kings in Chennai and this funding round will help us expand into newer cities. We hope to enter Coimbatore, Bangalore and Hyderabad in this current year and get closer to our target of 100 stores in 5 years. Apart from expansions, bulk of this funding will be utilized to strengthen our operations and supply chain management,’ said Jahabar Sadique, CEO of Chai Kings.