Chai Point raises $20mn to spur expansion
New Delhi, Apr 19 (ANI): Popular beverage chain Chai Point on Thursday announced a USD 20 million Series C funding round, led by Paragon Partners, which will be allocated towards spurring its growth in India. Chai Point is an organised brand in the Rs.1.5 Lakh crore tea market targeting one billion Indians. With the average per capita consumption of the beverage increasing at a steady rate of 20-30 percent, the market is ever expanding. The company, who offers nearly 0.3 million cups of Chai a day across all its channels - stores, delivery, and dispensers -is poised to do five-fold more in the next three years. Apart from the investment, the company also announced that Siddharth Parekh, Co-Founder and Senior Partner of Paragon Partners, the prime investor in this round, will be joining the Chai Point's Board of Directors.