Delhi-based coffee brand Blue Tokai Coffee posted a 72% growth in scale in the last fiscal year to Rs 128.7 crore. The same year witnessed a little over 99% of the overall revenue coming in from operations. Its previous financial year, FY22, recorded a revenue of Rs 74.8 crore with operations contributing close to over Rs 73 crore.
Blue Tokai Coffee is a coffee roaster and retailer established by Matt Chitharanjan, Namrata Asthana, and Shivam Shahi. The brand offers roasted ground coffee, coffee capsules, starter kits, brew bags and subscriptions. Apart from this it also offers brewing equipment, grinders, mugs etc.
Incorporated in 2012, the company has its cafes situated across the states of Chandigarh, Delhi, Haryana, Karnataka, Uttar Pradesh among others. It currently has over 60 physical outlets and 4 roasteries across India and has started international operations in Japan.
Currently valued at Rs 506.85 crore, Blue Tokai has raised over Rs 358 crore over 8 funding rounds. It last raised an undisclosed amount led by A91 Partners last September.
Prior to this, the company scooped up an approximate of Rs 244 crore in its Series B round led by A91 Partners early last year. The round saw participation from the likes of 8i Ventures, Anicut Capital, Dovetail Global, DSP Mutual Fund, Perrin Advisors, and White Whale Partners.
Post the infusion of its Series B round, A91 Partners and Namrata Asthana became the largest shareholders with over 17.5% shares in the company, while Snow Leaopard and Matthew Joseph Chithranjan held close to 12% and over 5% shares respectively.
It losses scaled 3.5X to Rs 43 crore in comparison to FY22’s Rs 12.3 crore. While its EBITDA margin dropped to -17.94%, the company’s ROCE improved to -21.04%
The company’s expenses ballooned to Rs 165.6 crore in FY23. This was an over 83% rise as compared to FY22’s Rs 90.4 crore incurred by the company in FY23. Cost of materials stood at the top taking up over 35% of the total expenses of the year. Employee benefits and advertisements costs followed taking up over 26% and over 3% respectively.
Blue Tokai currently competes against the likes of Third Wave Coffee, Rage Coffee, Sleepy Owl, and Beanly.