Blue Tokai Coffee Roasters Revenue, Valuation, Funding & Investors
Blue Tokai Coffee Roasters is valued at $180M as of August 2024, a 7.8x multiple on its last reported $23M revenue.
Last Blue Tokai Coffee Roasters valuation
$180M
Series C · Aug 2024
Last Blue Tokai Coffee Roasters funding round
$25M
Undisclosed stage · Sep 2025
Blue Tokai Coffee Roasters revenue
$23M
Series C · Aug 2024
Key investors in Blue Tokai Coffee Roasters
A91 Partners
Anicut Capital
8i Ventures
Verlinvest
Huddle Ventures
Snow Leopard Technology Ventures
About Blue Tokai Coffee Roasters
Blue Tokai Coffee Roasters is a New Delhi-headquartered specialty coffee company roasting single-estate Arabica beans from Karnataka, Tamil Nadu, and Chikmagalur estates in India. It sells online and through over 100 cafes in 20 cities, offering brewed drinks, espresso-based beverages, and whole beans highlighting regional flavor notes like monsooned malabar.
Founded
2013
HQ
DelhiWebsite
Status
Privately held
Customer focus
B2C
Revenue model
Product sales
Revenue
$23M (Aug 2024)
Valuation
$180M (Aug 2024)
Blue Tokai Coffee Roasters Valuation
Blue Tokai Coffee Roasters is currently valued at $180M, based on its Series C in August 2024.
The $35M round was led by Verlinvest, with participation from A91 Partners, DSP Mutual Fund, 12 Flags Group, Anicut Capital and Acsys Investments.
Blue Tokai Coffee Roasters' valuation has grown 14x from $13M at its Series A in June 2019 to $180M in August 2024, across 3 priced rounds.
Blue Tokai Coffee Roasters valuation by funding round
Revenue multiple| Date | Stage | Valuation | Revenue Multiple |
|---|---|---|---|
| Aug 2024 | Series C | $180M | 7.8x |
| Jan 2023 | Series B | $70M | 8.8x |
| Jun 2019 | Series A | $13M | - |
Blue Tokai Coffee Roasters Revenue
Blue Tokai Coffee Roasters' latest recorded revenue is $23M, as of its Series C in August 2024. At a $180M valuation, that implies a 7.8x revenue multiple.
Revenue grew from $8M in January 2023 to $23M in August 2024, while the revenue multiple moved from 8.8x to 7.8x.
Blue Tokai Coffee Roasters revenue by funding round
| Date | Revenue * | Valuation | Revenue Multiple | Stage |
|---|---|---|---|---|
| Aug 2024 | $23M | $180M | 7.8x | Series C |
| Jan 2023 | $8M | $70M | 8.8x | Series B |
* Revenue (or ARR) figures are the values recorded alongside each funding round. Typically run-rate revenue at the time of the deal, or a reported LTM (last 12 months) revenue.
Blue Tokai Coffee Roasters Funding History
Blue Tokai Coffee Roasters has raised a total of $106M across 10 funding rounds.
Blue Tokai Coffee Roasters' first fundraising round was a $500K seed round in February 2016. The most recent completed round was a $25M undisclosed-stage round in September 2025.
Blue Tokai Coffee Roasters funding rounds
| Date | Stage | Investors | Raised | Valuation | Deal Summary |
|---|---|---|---|---|---|
| Sep 2025 | Undisclosed stage | A91 Partners; 12 Flags Group; Verlinvest; Anicut Capital | $25M | - | Blue Tokai Coffee Roasters is a homegrown specialty coffee chain operating over 160 cafes across major Indian cities, focusing on premium coffee with direct farm sourcing, roasting, and retail expansion. The company raised USD 25 million (approx. INR 220 crore) in a bridge funding round in September 2025 from existing investors A91 Partners, Anicut Capital, Verlinvest, and 12 Flags Group, bringing total funding to around $97-110 million. This short-term capital infusion follows a $35 million Series C round a year prior and supports scaling retail presence, back-end operations like roasteries and bakeries in Bengaluru and Gurugram, and international entry into Dubai and Japan. Post-funding, Blue Tokai revised ambitious targets to over 800 stores and INR 2,000 crore revenue within four years, up from prior goals of INR 1,000 crore revenue and INR 100 crore EBITDA by 2027, driven by strong consumer demand. Financially, FY25 (ended March 2025) showed operating revenue surging 50-1.5X to Rs 325-325.4 crore from Rs 216 crore in FY24, with total income at Rs 221.1 crore including other income, and net losses reduced 20-21% to Rs 50.2 crore amid rising costs like 67% higher rentals to Rs 55.2 crore. Historical revenue grew from INR 41 crore in FY21 to 75 crore FY22, 127 crore FY23, and 216 crore FY24. In the competitive organized cafe segment, Blue Tokai contends with Third Wave Coffee Roasters, SLAY Coffee, Rage Coffee, Sleepy Owl, and Seven Beans Co., benefiting from rising demand for specialty coffee in urban India while investing in physical expansion and improved unit economics. |
| Aug 2024 | Series C | Verlinvest (lead); A91 Partners; DSP Mutual Fund; 12 Flags Group; Anicut Capital; Acsys Investments | $35M | $180M | Blue Tokai Coffee Roasters is a Delhi NCR-based specialty coffee brand founded in 2012 by Matt Chitharanjan, Shivam Shahi, and Namrata Asthana, operating over 100 stores across India and recently expanding to Japan via a joint venture. The company focuses on coffee sales, food items, and a growing bakery business. In FY24 (financial year ending March 2024), operating revenue surged 69% to INR 215.8 Cr from INR 127.5 Cr in FY23, driven by INR 201 Cr from coffee and food sales and INR 15 Cr from bakery, with total revenue including other income reaching INR 221.1 Cr, up 72% YoY. Despite revenue growth, losses widened 46% to INR 62.9 Cr in FY24 from INR 43 Cr in FY23, attributed to rising operational costs and expansion, including employee benefits up 94% to INR 84 Cr (41% of revenue), rent up 90.4% to INR 33 Cr, and advertising up 33% to INR 7.74 Cr. EBITDA margin improved slightly to -19.7% from -23.2% YoY. No details on the specified August 2024 funding round with Verlinvest as lead and investors like 12 Flags Group, A91 Partners, Acsys Investments, Anicut Capital, and DSP Mutual Fund appear in the sources, including no valuation or amount raised. Projections indicate revenue around Rs 147 Cr in FY25 and Rs 200 Cr in FY26, with profitability targeted, amid aggressive store expansion. A separate $25 Mn bridge funding is noted without tying to the queried round or providing valuation metrics. The sources emphasize FY24 financials near the round date but lack VC round specifics or multiples. |
| Jan 2023 | Series B | A91 Partners (lead); White Whale Ventures; 8i Ventures; Anicut Capital | $30M | $70M | Blue Tokai Coffee Roasters, a homegrown specialty coffee brand founded in 2013, secured $30 million (Rs 246 crore) in Series B funding on January 18, 2023, led by A91 Partners with participation from White Whale Ventures, Grand Anicut Fund, and 8i Ventures. The post-money valuation reached Rs 650 crore according to sources close to the deal. The company operates cafes, roasteries, e-commerce, and B2B channels, with four roasteries and over 60 outlets in India plus operations in Japan, offering products like cold brew cans and biodegradable capsules. The funding will support scaling cafes to over 250 stores in three years, expanding B2B technology for coffee machines, growing e-commerce with new FMCG products, and showcasing coffee from 100 new producers. Blue Tokai reported Rs 74 crore in revenue for FY ended March 31, 2022, and a revenue run rate of Rs 150 crore for the ongoing fiscal year as stated by its CEO, with plans for profitability the following year. The startup runs three main verticals: physical cafe stores, e-commerce/marketplace, and B2B leasing to corporates, hotels, and restaurants. It services pan-India operations from roasteries in Delhi, Mumbai, and Bengaluru. This round follows prior talks for $12-15 million and aligns with investor interest in specialty coffee amid rising consumer demand. |
| Aug 2021 | Series B | Anicut Angel Fund (lead) | $2M | - | - |
| Aug 2020 | Seed | Anicut Capital | $2M | - | - |
| Jul 2020 | Series A | 8i Ventures (lead); Adept Ventures | $2M | - | - |
| Jun 2019 | Series A | 8i Ventures (lead); A91 Partners; Huddle Ventures | $3M | $13M | Blue Tokai Coffee Roasters is an Indian specialty coffee company founded in 2013, focused on roasting high-quality Indian coffee beans and operating cafés and roasteries. In March 2019, it raised ₹24 crore in a debenture funding round at a post-money valuation of ₹120.8 crore, with investors including Angel List, GHV Accelerator, and KCT Family Office. This round contributed to the company's steady funding progression, attracting repeat investors like Snow Leopard (Kirloskar Family Office). The company has expanded to over 110 outlets across key Indian cities and international operations in Japan, having roasted over 1.2 million kgs of coffee and served over 5 million cups. |
| Mar 2019 | Seed | A91 Partners; Endurance Capital; Huddle Ventures | $4M | - | - |
| Jul 2017 | Seed | Snow Leopard Technology Ventures (lead) | $2M | - | - |
| Feb 2016 | Seed | Snow Leopard Technology Ventures (lead); Brew House; Bold Ventures | $500K | - | - |
Who has invested in Blue Tokai Coffee Roasters?
15 investors have backed Blue Tokai Coffee Roasters across its funding rounds, including A91 Partners, Anicut Capital, 8i Ventures, Verlinvest, Huddle Ventures and Snow Leopard Technology Ventures.
Lead investors include Verlinvest, A91 Partners, Anicut Angel Fund, 8i Ventures and Snow Leopard Technology Ventures.
Blue Tokai Coffee Roasters Investors
| Investor | HQ | Rounds | Role | First check |
|---|---|---|---|---|
| Mumbai | 5 | Lead | Mar 2019 | |
| Chennai | 4 | Participant | Aug 2020 | |
| India | 3 | Lead | Jun 2019 | |
| India | 2 | Participant | Aug 2024 | |
 Brussels | 2 | Lead | Aug 2024 | |
| Pune | 2 | Lead | Feb 2016 | |
| Gurgaon | 2 | Participant | Mar 2019 | |
| Mumbai | 1 | Participant | Jan 2023 | |
| Chennai | 1 | Lead | Aug 2021 | |
| India | 1 | Participant | Aug 2024 | |
| New Delhi | 1 | Participant | Feb 2016 | |
| New Delhi | 1 | Participant | Jul 2020 | |
 Toronto | 1 | Participant | Feb 2016 | |
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Start Free TrialBlue Tokai Coffee Roasters Competitors
Blue Tokai Coffee Roasters competitors include listed companies like Verkkokauppa.com and Vente Unique, and private ones like Wingreens Farms, Liv Up, The Belgian Waffle Co. and Babyshop.
| Company | HQ | Status | Revenue | EBITDA | Valuation | Revenue Multiple |
|---|---|---|---|---|---|---|
| Gurgaon | Private | $33M | - | $205M | 6.2x | |
 São Paulo | Private | $20M | - | $180M | - | |
 Finland | Publicly listed | $606M | $27M | $181M | 0.3x | |
| India | Private | $48M | $7M | $182M | 3.8x | |
 Stockholm | Private | - | - | $176M | - | |
 France | Publicly listed | $231M | $22M | $186M | 0.7x |
Blue Tokai Coffee Roasters Public Comps
Blue Tokai Coffee Roasters is still privately-owned, but its public comps include Fine Foods, Verkkokauppa.com, HKFoods, Vente Unique, NoHo Partners, CJ Freshway, Cakovecki Mlinovi, YesAsia, 1-800-Flowers.com and Studds Accessories.
| Last FY | EV/Revenue | EV/EBITDA | ||||||
|---|---|---|---|---|---|---|---|---|
| Revenue | EBITDA | Last FY | LTM | 2027E | Last FY | LTM | 2027E | |
| $290M | $40M | 1.0x | 1.0x | 7.4x | 7.1x | |||
| $606M | $27M | 0.3x | 0.3x | 7.2x | 7.4x | |||
| $1.1B | $70M | 0.4x | 0.4x | 6.0x | 5.6x | |||
| $231M | $22M | 0.8x | 0.7x | 8.4x | 6.6x | |||
| $412M | $100M | 1.0x | 1.0x | 4.2x | 4.8x | |||
| $2.5B | $118M | 0.2x | 0.2x | 4.0x | 4.0x | |||
| $458M | $28M | 0.5x | - | 7.6x | - | |||
| $502M | $42M | 0.4x | 0.3x | 4.9x | 4.1x | |||
This data is available for Pro users. Sign up to see all Blue Tokai Coffee Roasters competitors and their valuation data. Start Free Trial | ||||||||
Common questions about Blue Tokai Coffee Roasters
| When was Blue Tokai Coffee Roasters founded? | Blue Tokai Coffee Roasters was founded in 2013. |
| Where is Blue Tokai Coffee Roasters headquartered? | Blue Tokai Coffee Roasters is headquartered in Delhi, India. |
| Is Blue Tokai Coffee Roasters publicly listed? | No, Blue Tokai Coffee Roasters is a private, VC-backed company. |
| What is Blue Tokai Coffee Roasters' valuation? | Blue Tokai Coffee Roasters was last valued at $180M in its Series C in August 2024. |
| How much funding has Blue Tokai Coffee Roasters raised? | Blue Tokai Coffee Roasters has raised $106M across 10 funding rounds. |
| What was Blue Tokai Coffee Roasters' last funding round? | Blue Tokai Coffee Roasters' last funding round was a $25M undisclosed-stage round in September 2025. |
| Who are Blue Tokai Coffee Roasters' investors? | Blue Tokai Coffee Roasters' investors include A91 Partners, Anicut Capital, 8i Ventures, 12 Flags Group, Verlinvest, Snow Leopard Technology Ventures, Huddle Ventures, White Whale Ventures, Anicut Angel Fund, DSP Mutual Fund and 5 others. |
| What is Blue Tokai Coffee Roasters' revenue? | Blue Tokai Coffee Roasters' latest recorded revenue is $23M (August 2024). |
| What is Blue Tokai Coffee Roasters' revenue multiple? | Blue Tokai Coffee Roasters' latest valuation implies a 7.8x revenue multiple ($180M valuation on $23M of revenue). |
| Which companies are comparable to Blue Tokai Coffee Roasters? | Companies comparable to Blue Tokai Coffee Roasters include Wingreens Farms, Liv Up, Verkkokauppa.com, The Belgian Waffle Co., Babyshop and Vente Unique. |
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