Chaayos, an India-based tea café chain startup has raised $53 million in its new funding round led by Alpha Wave Ventures to support its expansion plans.
- The fund will be used to scale its tech enhancement, hire more talents, and expand its chain of stores, the firm claims.
- Chaayos runs 190 stores of tea cafés in 6 cities in India, with a plan to add 100 by the year-end.
- The firm offers tea personalization in 80,000 combinations using IoT bots and facial recognition for easy checkout and payment.
- Its existing investors, Elevation Capital, Tiger Global, and Think Investments participated in the round.