- Chai Waale announced a ₹5 crore investment round led by Sunil Sethia, Sunil Kumar Singhvi, Manish Mardia (UNI-M Network), and celebrities Nayanthara and Vignesh Shivan.
- The funds will be used by the company to promote the physical and strategic expansion of Chai Waale around the city.
- Approximately 80% of the current investment will be used for physical shop growth.
- Chai Waale has navigated the digital ordering arena with ease, using specifically designed packaging and strict hygiene standards to assure safe transfer both online and in-store.
On Friday, Chennai-based tea company Chai Waale announced a ₹5 crore investment round led by Sunil Sethia, Sunil Kumar Singhvi, Manish Mardia (UNI-M Network), and celebrities Nayanthara and Vignesh Shivan. Private companies such as the online trading platform for unlisted shares Unlisted Kart LLP and the Chennai-based Conscience multi-family office, among others, also participated in the round.
How will the funds be used by Chai Waale?
The funds will be used by the company to promote the physical and strategic expansion of Chai Waale around the city. Chai Waale, which was founded in 2018 by Vidur Maheswari, has built a solid foundation in the mid-range beverage providers market in Chennai, with 20 outlets in key locations and customer-oriented service.
The QSR business serves a variety of specialty teas, including milk, black, herbal, and iced teas, as well as a selection of savory items like sandwiches, noodles, poha, and khakhras. Soups, momos, and a wider selection of sandwiches have just been introduced to Chai Waale’s menu, and more flavors of ice tea, sweets, and fast items are on the way.
The homegrown QSR brand intends to open locations with heavy foot traffic, including metro stations and shopping malls.
“We respect our investors and are grateful for their unwavering support. We are eternally thankful to our current investors for their unwavering trust in the brand and for their contribution to this round of investment. Approximately 80% of the current investment will be used for physical shop growth. By the end of the year, we want to have 35 fully operational stores. The remaining money will be used for marketing, back-end system growth, and the formation of a management team,” according to Maheswari.
“Given the healthy group of investors, we are confident about our growth trajectory in the future year,” Vidur added.
Existing and new investors have fueled this round of funding for Chai Waale. Mr. Sunil Sethia, Mr. SunilKumar Singhvi, Mr. Manish Mardia, UNI-M Network, a Mumbai-based angel network, and celebrities Nayanthara and Vignesh Shivan are among Chai Waale’s angel investors. Private businesses such as Unlisted Kart LLP (an online trading platform for unlisted shares) from Bangalore and Conscience Multi-Family office from Chennai, among others, are also playing a significant part in this round of investment.
The home-grown QSR brand intends to open locations with significant foot traffic, such as Metro stations and malls, while also catering to the tea and snack requirements of the entire family. Chai Waale has lately expanded its menu to include soups, momos, and a variety of sandwiches to cater to the tastes of the entire family. In addition, additional ice tea varieties, sweets, and fast items are on the way.
Given the importance of cloud delivery, Chai Waale has navigated the digital ordering arena with ease, using specifically designed packaging and strict hygiene standards to assure safe transfer both online and in-store.
“Since the initial shutdown, we have implemented strict hygiene practices and safety precautions that have given us the confidence to serve our consumers safely through online channels.” During the unlock phases, we boosted our digital marketing and e-commerce spending in order to gain a new online client base in addition to our current loyal customer base,” Vidur Maheswari stated.
About Chai Waale
By meticulously finding the best tea leaves and selling them reasonably, Chai Waale has become a tea connoisseur’s favorite place. In a tea-dominated country, the QSR company provides a variety of specialty teas such as milk, black, herbal, and iced tea variations, as well as a variety of savory items such as sandwiches, noodles, poha, and khakhras.
With strategic locations and customer-oriented service, Chai Waale has built a firm foundation in the mid-range beverage providers market in Chennai since its debut in 2018. Vidur Maheswari, the creator of Chai Waale, is 27 years old and has a Bachelor’s degree in Business Management from King’s College in London. He has taken advanced courses in Financial Statement Analysis and Corporate Governance at Harvard University in the United States. Chai Waale was founded in June 2018 as a result of his desire to develop a scalable food and beverage business.
He has effectively blended his B-School education with the complexities of today’s corporate world. Vidur, who comes from a business family in Chennai, has combined the best of established traditional business concepts and ethics with modern business practices that form the backbone of brick-and-mortar enterprises.
To mention a few, Chai Waale has 20 locations in Anna Nagar, Kilpauk, Sowcarpet, George Town, T Nagar, Saligramam, Egmore, Ritchie Street, Alwarpet, Adyar, Nolambur, Perungudi, Ambattur, Chintamani, and SRM University.