Blue Tokai Raises $25 Million Bridge Round to Accelerate Domestic Growth and Global Expansion

Specialty coffee leader Blue Tokai Coffee Roasters has secured USD 25 million (approx INR 220 crore) in a bridge funding round from existing investors—A91 Partners, Anicut, Verlinvest, and 12 Flags. The proceeds will support aggressive expansion of retail operations, enhancement of backend infrastructure, and strategic forays into international markets like Dubai and Japan.

Revised Growth Ambitions

Blue Tokai has ambitiously revised its targets. It now aims to scale to 800+ stores and attain INR 2,000 crore in revenue within the next four years—more than double its earlier target of INR 1,000 crore by 2027. Funds will also support new cafe launches and the expansion of its roastery and bakery facilities in Bengaluru and Gurugram.

Funding and Financial Performance

This bridge funding adds to a total raise of over USD 105 million to date, which includes a USD 30 million Series C round led by Verlinvest in August last year. According to data, A91 Partners is the largest external stakeholder at 22.77%, followed by Verlinvest.

Blue Tokai’s revenue has grown significantly over four fiscal years, from INR 41 crore in FY21 to INR 216 crore in FY24. In FY24, the company reported around INR 240 crore in revenue, while narrowing losses to INR 15–20 crore, with expectations of further reduction to INR 5–7 crore this year.

Market Positioning and Competition

Operating as one of India’s premium coffee brands with numerous outlets across major cities, Blue Tokai faces competition from Rage Coffee, Third Wave Coffee Roasters, Slay Coffee, Sleepy Owl, and Seven Beans Co.

International Expansion

Founded in 2013, Blue Tokai began as a small roastery and has since expanded to 164 cafés across India, while building a robust D2C presence. Internationally, the company is already present in Japan and has signed a master franchise agreement to enter the Middle East, with a flagship store in Dubai scheduled to open in Q4 2025.