Chai Kings raises ₹24 crore for expansion plans

Chai Kings, a tea retail chain, has secured ₹24 crore ($3 million) in Series A funding from A.V. Thomas & Co. This investment will support the company's expansion, product development, and supply chain improvements. The company plans to enhance customer engagement through technology and aims to double its revenue over the next two years. Chai Kings expects to close FY25 with ₹48 crore in revenue and a positive EBITDA. Founded in 2016, Chai Kings operates 57 stores in Chennai, Hyderabad, and Coimbatore. The funding also allows early backers, The Chennai Angels, to make a partial exit with significant returns.