Two New Unicorns, Virat Kohli’s Coffee Bet, Ola’s EV Hurdle and More
In March, two coffee startups also raised funds.
Blue Tokai has raised an undisclosed sum announcing Negen Capital and Mauryan Capital as its latest investors.
“With their support, we are on track to double our revenue to Rs 200 crore by next year,” said Matt Chitharanjan, co-founder and CEO of Blue Tokai Coffee Roasters.
Separately, Delhi-based Rage Coffee, a packaged coffee maker, has onboarded Indian cricketer Virat Kohli as an investor and brand ambassador. “I see tremendous potential for the brand to become one of the most iconic coffee companies of our time,” Kohli said in a press release.
In August, the startup raised $5 million in Series A funding led by Sixth Sense Ventures.
On the subject, Swiggy’s upcoming initial public offering has accelerated, with the food delivery company hiring bankers for the process, reported Economic Times. The company is reportedly seeking a valuation of up to $1 billion.
Swiggy declined to comment on BloombergQuint’s queries.
Rival Zomato announced 10-minute delivery for select food items. Its board also approved a $150 million loan to Blinkit (formerly Grofers). “This loan will support Grofers’ near-term capital needs and is in line with our stated intention to invest up to $400 million in cash in fast trading in India over the next two years,” he said. in a swap folder.
Zomato also bought a 16.6% stake in food robotics company Mukunda Foods for around $5 million. “Their products allow restaurants to grow rapidly while maintaining consistency in food quality and customer experience across multiple outlets. Our investment will help Mukunda Foods scale faster, reduce restaurant food prices, increase margins and improve customer enjoyment,” he said in another filing.