Funding · Commerce & Consumer Brands

Blue Tokai eyes major funding from Temasek, ChrysCapital

By Startup Enthusiast · 31 August 2026

What they do

Blue Tokai operates a farm-to-cup coffee business, selling roasted beans, ready-to-brew products, and operating a network of 240 cafes across India

The company is in talks to raise up to Rs 1,200 crore from Temasek or ChrysCapital to fuel international expansion and store growth

The deal, which includes primary and secondary capital, aims to scale the brand as a primary challenger to Starbucks in the Indian market

Blue Tokai is negotiating a Rs 1,000-1,200 crore investment round involving Temasek and ChrysCapital.
The transaction will combine primary capital (new money for the company) and secondary sale (existing shareholders selling their stakes).
The company is valued at Rs 3,550-3,700 crore in these ongoing discussions.
Funds will support tripling the current 240-store network and entering markets in Japan and the UAE.
The round will also provide liquidity (cash exit) for early seed-stage investors.

Blue Tokai is currently positioned as the strongest local challenger to Starbucks in India.
The company achieved monthly EBITDA-positive status over the last six months, signaling improved operational efficiency.
ChrysCapital previously acquired Theobroma, suggesting potential synergies between the two food and beverage brands.

The company follows a farm-to-cup model, sourcing and roasting fresh arabica beans.
Product lines include roasted beans, capsules, Easy Pour sachets, cold brew bags, and ready-to-drink cans.
It operates a subscription service allowing customers to customize grind size, coffee variety, and delivery frequency.
Revenue for FY25 reached Rs 325 crore, representing a 50% year-on-year growth.
The company reported FY25 losses of Rs 50 crore, which narrowed by 20.6% compared to the previous period.
Management projects revenue to reach Rs 750-775 crore by FY27 with 40% EBITDA margins.