beverage model: Chai Waale baggage Rs 5 crore from angel traders
The spherical noticed participation from current and new traders. The corporate stated that the funding will promote bodily and strategic enlargement of Chai Waale all through town.
“80% of the present funding will likely be utilised in bodily retailer enlargement. We purpose to have 35 totally functioning shops by the subsequent yr. The remainder of the funds will likely be earmarked for advertising and marketing, enlargement of back-end techniques, and managerial crew,” stated Vidur Maheswari, founder, Chai Waale.
Chai Waale is planning to arrange retailers in locations similar to metro stations and malls and is trying so as to add different gadgets similar to soups, momos, and an expanded vary of sandwiches to its menu. Moreover, new flavours of ice tea, desserts, and a few fast gadgets are within the pipeline too, the corporate stated in a press release.
“In the course of the unlock phases, we elevated our digital advertising and marketing and e-commerce budgets to amass a brand new buyer base on-line aside from our current loyal buyer base,” stated Maheswari.
Chai Waale’s angel traders embody Sunil Sethia, Sunil Kumar Singhvi, Manish Mardia, UNI-M Community, a Mumbai-based angel community and celebrities like Nayanthara and Vignesh Shivan.
Moreover, non-public organisations similar to Bengaluru’s Unlisted Kart LLP (a web-based buying and selling platform of unlisted shares) and Chennai-based Conscience Multi Household Workplace are among the many different traders who’ve performed a job on this spherical of funding, the corporate stated.