Chaayos has raised about $ 53 million to invest in its research and development in technology and also to hire fresh employees.
Chaayos is a start-up founded by two engineers, Nitin Saluja and his co-founder Raghav Verma. What comes to your mind when you hear the word ‘chai’? Yes! We sense a refreshing and peaceful vibe circling around your hectic schedule. The company ‘chaayos’ was formed with the idea to encourage generations to embrace tea or what we call ‘chai’ with an approach of a premium beverage.
There are several joints offering coffee at a high price just because of the social status it has built over the years. On the other hand, chai are offered at roadside stalls and dhabas, where hygiene is a concern for many. Chaayos came to change these concepts by providing places to decompress and have a sip at a very affordable rate.
Recently, Alpha Wave Ventures invested $ 53 million in Chaayos in the third round of funding. The company will be directing these funds to improve the tech, hire more employees and further expand by opening more stores. Backed by investors like Tiger Global, Elevation Capital among others, Chaayos aims to open 100 more stores by 2022.
There are about 80,000 combinations offered in the catalog, and Chaayos want its customers to feel a sense of belonging while sipping every bit of their flavors. The key elements that are making the company successful has a lot to do with customer satisfaction and scalability with the help of technology.
Chaayos started in a domain which is entirely exclusive and never heard of. And now, about 45% of the company’s revenue comes from the impeccable online deliveries of chai at the doorsteps of their customers.
