Angel investment group, The Chennai Angels (TCA) announced an investment of $1 million in tea selling retail chain Chai Kings, along with Hyderabad Angels and TiE India Angels.
Chai Kings, founded in 2016, is the Chennai’s largest Chai Retail chain operating with 40 stores.
Jahabar Sadique, CEO of Chai Kings said that the company plans to enter Coimbatore, Bangalore and Hyderabad in the current year.
The company has set a target of 100 stores in 5 years. Apart from expansions, bulk of this funding will be utilised to strengthen its operations and supply chain management.
Source: Business-Standard