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Tiger Global commits $5m to India tea chain Chaayos

  • Holden Mann
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Chaayos, a Delhi-based chain of teahouses, has raised $5 million in Series A funding from Tiger Global. Ola co-founders Bhavish Aggarwal and Ankit Bhati have also invested an undisclosed amount.

The company, which currently operates eight locations in Delhi, plans to expand to 50 by the end of 2016. Half of those locations will be in Bangalore, Mumbai and Pune, according to Livemint. Chaayos will also expand its delivery service and mobile app offerings.

Founded in 2012, Chaayos sells drinks and food, along with customized chai blends, both in person and on delivery. It also sells its packaged blends through existing online marketplaces such as Amazon, Snapdeal and BigBasket.

The company currently sells 100,000 cups per month, and aims to become India's biggest tea retailer. Its competitors include Saama Capital-backed teahouse chain Chai Point and Accel-supported online delivery service Teabox.

This is Tiger Global's second investment in a non-tech start-up in India in the last month. The firm also participated in the $85 million Series D round for Delhivery, which provides logistics services for e-commerce companies.

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