Two IITians teamed up to start a tea cafe chain ‘Chaayos’ in the NCR region and seeking to raise venture capital to open nearly 50-odd stores across the country.
Currently, there are five cafes with the theme ‘Experiments with Chai’ in Gurgaon and Noida and five more would be opened by the end of this year.
“We already have raised one round of angel investment of over Rs 2 crore from Powai Lake Ventures, led by Zishaan Hayath who is an angel investor. We are planning to go in for institutional round towards end of this year,” said Nitin Saluja, founder of Chaayos.
The chain plans to add another 50 cafes in the next two years by covering at least two more cities and increase penetration in Delhi NCR region.
“We are targeting cities with lots of young population,” he said.
Tags: Venture Capital, Venture Capital Firm, Venture Capital Group, Venture Capital Industry, Venture Capital Investment, Venture Capital Investor, Venture Capital Fund, VC Funding, VC, IITians, Tea Cafe Chain, Chaayos, Experiments with Chai, Gurgaon, Noida, Angel Investor, Powai Lake Ventures, Zishaan Hayath, Nitin Saluja, Delhi.