Blue Tokai Coffee Roasters Revenue, Valuation, Funding & Investors

Blue Tokai Coffee Roasters is valued at $180M as of August 2024, a 7.8x revenue multiple. Blue Tokai Coffee Roasters revenue was $37M, as disclosed with its September 2025 round.

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

$37M

Undisclosed stage · Sep 2025

Key investors in Blue Tokai Coffee Roasters

  • A91 Partners
  • Anicut Capital
  • 8i Ventures
  • Verlinvest
  • Huddle Ventures
  • Snow Leopard Technology Ventures

Blue Tokai Coffee Roasters Overview

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

IndiaDelhi

Status

Privately held

Customer focus

B2C

Revenue model

Product sales

Revenue

$37M (Sep 2025)

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. Read the announcement ↗

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
Blue Tokai Coffee Roasters valuation by funding round
DateStageValuationRevenue Multiple
Aug 2024Series C$180M7.8x
Jan 2023Series B$70M8.8x
Jun 2019Series A$13M-

Blue Tokai Coffee Roasters Revenue

Blue Tokai Coffee Roasters' latest recorded revenue is $37M, as of its undisclosed-stage round in September 2025.

Revenue grew from $8M in January 2023 to $37M in September 2025.

Blue Tokai Coffee Roasters revenue by funding round

Blue Tokai Coffee Roasters revenue and valuation multiple by funding round
DateRevenue *ValuationRevenue MultipleStage
Sep 2025$37M--Undisclosed stage
Aug 2024$23M$180M7.8xSeries C
Jan 2023$8M$70M8.8xSeries 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 $103M across 9 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

Blue Tokai Coffee Roasters funding rounds
DateStageInvestorsRaisedValuationDeal Summary
Sep 2025Undisclosed stageA91 Partners; 12 Flags Group; Verlinvest; Anicut Capital$25M-Blue Tokai Coffee Roasters raised $25 million (around Rs 220 crore) in a bridge funding round in September 2025 from existing investors A91 Partners, Anicut Capital, Verlinvest and 12 Flags Group. The company said the proceeds would be used to scale retail operations, strengthen back-end infrastructure including roasteries and a bakery in Bengaluru and Gurugram, and expand into international markets such as Dubai and Japan. The round followed a $30 million Series C led by Verlinvest in August 2024, and the company had raised over $105 million in total by then. Alongside the raise, the founders revised their growth targets upwards from Rs 1,000 crore of revenue and Rs 100 crore of EBITDA by 2027 to more than 800 stores and Rs 2,000 crore of revenue within four years. Blue Tokai is a specialty coffee roaster and cafe chain that sources coffee directly from farms, roasts it in India and sells through its own cafes and retail channels in several Indian cities. Its revenue grew from Rs 41 crore in FY21 to Rs 75 crore in FY22, Rs 127 crore in FY23 and Rs 216 crore in FY24. It competes with Rage Coffee, Third Wave Coffee Roasters, Slay Coffee, Sleepy Owl and Seven Beans Co.
Aug 2024Series CVerlinvest (lead); A91 Partners; DSP Mutual Fund; 12 Flags Group; Anicut Capital; Acsys Investments$35M$180MVerlinvest led a USD 35 million Series C round in Blue Tokai Coffee Roasters in August 2024, with existing investors A91 Partners and Anicut Capital also participating alongside other backers. The round valued the company at about INR 1,500 crore, roughly USD 179 million, according to press reports. Verlinvest, the Belgian investment firm, described the investment as a bet on the growth of specialty coffee in India. The proceeds were intended to fund retail expansion, back-end infrastructure and the company's international growth plans. Blue Tokai Coffee Roasters is a Delhi NCR-based specialty coffee roaster and cafe chain founded in 2012 by Matt Chitharanjan, Shivam Shahi and Namrata Asthana. It sells roasted coffee and food through more than 100 stores across India and online, and has a growing bakery business. In FY24 the company reported operating revenue of INR 215.8 crore, up 69% on the prior year, and a loss of INR 62.9 crore.
Jan 2023Series BA91 Partners (lead); White Whale Ventures; 8i Ventures; Anicut Capital$30M$70MBlue 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 2021Series BAnicut Capital (lead)$2M-Anicut Angel Fund, the equity arm of Anicut Capital, led a Rs 17 crore (about $2.3 million) pre-Series B bridge round in Blue Tokai Coffee Roasters in August 2021, with other new and existing investors participating. The company said the funds would go to new products, farm-level quality work, international expansion and marketing. Blue Tokai is a Delhi-based specialty coffee company founded in 2013 that roasts Indian coffee and sells it through its own cafes, online channels and business customers. Its online channels had grown revenue by more than 50% over pre-Covid levels at the time of the round. The business went on to raise a Series B led by A91 Partners in 2023.
Jul 2020Series A8i Ventures (lead); Adept Ventures$2M--
Jun 2019Series A8i Ventures (lead); A91 Partners; Huddle Ventures$3M$13MBlue 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 2019SeedA91 Partners; Endurance Capital; Huddle Ventures$4M--
Jul 2017SeedSnow Leopard Technology Ventures (lead)$2M--
Feb 2016SeedSnow Leopard Technology Ventures (lead); Brew House; Bold Ventures$500K--

Who has invested in Blue Tokai Coffee Roasters?

14 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 Capital, 8i Ventures and Snow Leopard Technology Ventures.


Blue Tokai Coffee Roasters Investors

Investors in Blue Tokai Coffee Roasters by funding rounds participated
InvestorHQRoundsRoleFirst check
A91 PartnersIndiaMumbai5LeadMar 2019
Anicut CapitalIndiaChennai4LeadAug 2021
8i VenturesIndiaIndia3LeadJun 2019
12 Flags GroupIndiaIndia2ParticipantAug 2024
VerlinvestBelgiumBrussels2LeadAug 2024
Snow Leopard Technology VenturesIndiaPune2LeadFeb 2016
Huddle VenturesIndiaGurgaon2ParticipantMar 2019
White Whale VenturesIndiaMumbai1ParticipantJan 2023
DSP Mutual FundIndiaMumbai1ParticipantAug 2024
Brew HouseIndiaNew Delhi1ParticipantFeb 2016
Adept VenturesIndiaNew Delhi1ParticipantJul 2020
Bold VenturesCanadaToronto1ParticipantFeb 2016

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Blue Tokai Coffee Roasters Competitors

Blue Tokai Coffee Roasters competitors include listed companies like Verkkokauppa.com, 1-800-Flowers.com and Giftee, and private ones like Wingreens Farms, The Belgian Waffle Co. and Babyshop.

Public and private companies comparable to Blue Tokai Coffee Roasters
CompanyHQStatusRevenueEBITDAValuationRevenue Multiple
Wingreens FarmsIndiaGurgaonPrivate$33M-$205M6.2x
Verkkokauppa.comFinlandFinlandPublicly listed$589M$26M$180M0.3x
The Belgian Waffle Co.IndiaIndiaPrivate$48M$7M$182M3.8x
1-800-Flowers.comUnited StatesUnited StatesPublicly listed$1.5B($66M)$177M0.3x
BabyshopSwedenStockholmPrivate--$176M-
GifteeJapanJapanPublicly listed$90M$19M$173M1.7x

Blue Tokai Coffee Roasters Public Comps

Blue Tokai Coffee Roasters is still privately-owned, but its public comps include Verkkokauppa.com, Cakovecki Mlinovi, Grupo Minsa, Life Water Industries, CJ Freshway, 1-800-Flowers.com, YuanShengTai Dairy Farm, NoHo Partners, Bed Bath & Beyond and Giftee.

Last FYEV/RevenueEV/EBITDA
RevenueEBITDALast FYLTM2027ELast FYLTM2027E
Verkkokauppa.com$589M$26M0.3x0.3x7.4x7.5x
Cakovecki Mlinovi$445M$27M0.5x-7.6x-
Grupo Minsa$480M$75M1.0x-6.5x-
Life Water Industries$51M$17M3.4x3.0x10.1x9.4x
CJ Freshway$2.6B$121M0.2x0.2x3.9x4.2x
1-800-Flowers.com$1.5B($66M)0.3x0.3x(6.4x)63.1x
YuanShengTai Dairy Farm$411M$119M0.1x-0.4x-
NoHo Partners$400M$97M1.0x0.9x4.1x4.3x

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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 $103M across 9 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, DSP Mutual Fund, Brew House and 4 others.
What is Blue Tokai Coffee Roasters' revenue?Blue Tokai Coffee Roasters' latest recorded revenue is $37M (September 2025).
Which companies are comparable to Blue Tokai Coffee Roasters?Companies comparable to Blue Tokai Coffee Roasters include Wingreens Farms, Verkkokauppa.com, The Belgian Waffle Co., 1-800-Flowers.com, Babyshop and Giftee.

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