Chai Point raises $20 mn in fresh funding from Paragon Partners, others

Company is targeting profitability in FY19

India’s largest chain of organised tea stores Chai Point has raised $20 million in fresh funding at a time when the Tata Global Beverages is ramping up its presence in the space with its very own Cha cafes.

The funding was led by Paragon Partners, a mid-segment private equity investor, while existing investors, including Eight Roads (Fidelity’s India PE arm), Saama Capital and DSG also participated in the round.

This funding will be used to strengthen the brand’s multi-channel business model and also grow its number of automated hot beverage dispensing machines - boxC. The company will also invest heavily