Blue Tokai
| Industry | Coffeehouse |
|---|---|
| Founded | 2012-12 |
| Founder | Matt Chitharanjan, Namrata Asthana and Shivam Shahi |
| Headquarters | |
Number of locations | 250 outlets (2026) |
Area served | India |
| Products | |
| Parent | Muhavra Enterprises Private Limited |
| Website | https://bluetokaicoffee.com/ |
Blue Tokai Coffee Roasters is an Indian specialty coffee company headquartered in Gurugram, Haryana. It was founded in 2012-13 as a coffee chain that sources, roasts and sells single-origin estate-grown Indian coffee through e-commerce and B2B channels. As of 2026, it operates over 250 outlets across seven Indian cities and has begun expanding internationally into the United Arab Emirates.[1][2]
History
[edit]Blue Tokai was founded in Gurugram in 2010 by Matt Chitharanjan, Namrata Asthana, and Shivam Shahi. Chitharanjan, originally from the United States, previously worked in economic and real estate consulting and international development before co-founding the company.[3]
According to the founder, the venture began as a bootstrapped experiment with an initial investment of approximately Rs.10 lakhs, after the couple (Matt Chitharanjan and Namrata Asthana) moved to Delhi and began roasting coffee out of a room in Asthana's parents' home in New Delhi. The idea grew out of the observation that despite India being a major coffee producer with high quality beans that are exported, domestic markets are left with instant or generic coffee.[4]
The company initially operated as D2D online retailer and B2B supplier before it opened cafes to offer a "coffee experience".[5]
Early growth and regulations
[edit]The company expanded into Mumbai, it experience an early regulatory setback, according to Matt, a hired consultant provided the company a fraudulent food safety license from the Food Safety and Standards Authority of India (FSSAI). This resulted in a police shutdown of its operations in Mumbai. The founder describe this incident as "wake-up call" that exposed them to the absence of formal back-end business systems as the company scaled quickly.[6]
Growth and funding
[edit]Blue Tokai has raised $113 million in funding in 13 rounds with a total valuation of $235 million, as of 2025.[7]
| Year | Round | Amount | Lead investor(s) |
|---|---|---|---|
| 2020 | Early stage/ angel | ~Rs. 40 crore | Angel investors[8] |
| August 2021 | Pre-series B bridge | Rs. 17 crore | Anicut Angel Fund[9] |
| January 2023 | Series B | $30 million | A91 Partners,[8] White Whale Ventures [10] |
| September 2023 | Series B (extended) | undisclosed | Ka Enterprises[11] |
| August 2024 | Series C | $35 million | Verlinvest, with ChrysCapital[12] |
| September 2025 | Bridge round | $25 milliom | A91 Partners, Anicut, Verlinvest, 12 Flags |
| 2026 (ongoing discussions) | Growth round | ~ $100 million (yet to be finalised) | TPG, Temasek, ChrysCapital[13][14] |
Expansion
[edit]As of July 2026, according to COO Shivam Shahi there are more than 258 operational cafes in seven cities in India.[15]
Blue Tokai has hosted pop-up events in Tokyo and stated an intent to expand into international markets including Japan and UAE.[1] In 2026, it entered the UAE market through a partnership with Ambrosia Gulf.[16][17]
Blue Tokai is operating in India's growing speciality coffee segment along with Third Wave Coffee Roasters, Slay Coffee, Rage Coffee, Sleepy Owl, and Seven Beans Co.[12]
External links
[edit]References
[edit]- 1 2 "India's Blue Tokai makes much-anticipated Middle East launch". World Coffee Portal. 2026-07-16. Retrieved 2026-08-12.
- ↑ Staff, Entrepreneur (2025-09-02). "Blue Tokai Raises USD 25 Mn from Existing Investors". Entrepreneur India. Retrieved 2026-08-12.
- ↑ "Matt Chitharanjan". indiadesignid.com. Retrieved 2026-08-12.
- ↑ Bhuyan, Avantika (2019-07-04). "Matt Chitharanjan: Brewing the perfect cup". mint. Retrieved 2026-08-12.
- ↑ "Matt Chitharanjan". Fortune India. Retrieved 2026-08-12.
- ↑ "From cramped Delhi room to 155+ outlets across India, how Blue Tokai overcame FSSAI fake licence scare to brew success | Company Business News". mint. 2025-08-15. Retrieved 2026-08-12.
- ↑ "Restaurant India News: Blue Tokai Raises Rs 175 Crore in Series D Extension, Valuation Hits $235 Million - Restaurant India". www.restaurantindia.in. Retrieved 2026-08-12.
- 1 2 "Deepika Padukone invests in Blue Tokai, MSME lender Seeds Fincap raises Series A funds". VCCircle. Retrieved 2026-08-12.
- ↑ Alawadhi, Neha. "Blue Tokai raises Rs 17 cr in pre-series B bridge round led by Anicut Angel". Business Standard. Archived from the original on 2025-06-20. Retrieved 2026-08-12.
- ↑ Rawat, Aman (2023-01-18). "Blue Tokai rakes in $30 mn from A91 Partners, White Whale Ventures, others | Company Business News". mint. Retrieved 2026-08-12.
- ↑ "Actor Deepika Padukone invests in specialty coffee chain Blue Tokai - CNBC TV18". CNBCTV18. 2023-09-15. Retrieved 2026-08-12.
- 1 2 "Specialty coffee startup Blue Tokai raises $35 million from Verlinvest at $180 million valuation". Moneycontrol. Archived from the original on 2025-01-13. Retrieved 2026-08-12.
- ↑ C, Sneha Shah,Priyamvada (2026-07-08). "Blue Tokai Coffee courts PE funds for its largest ever fundraise at $100 million | Company Business News". mint. Retrieved 2026-08-12.
{{cite web}}: CS1 maint: multiple names: authors list (link) - ↑ "Blue Tokai Plans to Triple Stores to 800 by FY30, Eyes $100 Mn Raise". Outlook Business. 2026-07-08. Retrieved 2026-08-12.
- ↑ "FNB News - Blue Tokai Coffee Roasters to open new café at Mira Road | FNB News". www.fnbnews.com. Retrieved 2026-08-12.
- ↑ www.ETHospitalityWorld.com. "Blue Tokai Coffee Roasters achieves INR 400 Crore ARR". ETHospitalityWorld.com. Retrieved 2026-08-12.
- ↑ www.ETHospitalityWorld.com. "Blue Tokai partners with Ambrosia Gulf to expand into UAE and GCC market". ETHospitalityWorld.com. Retrieved 2026-08-12.