Chai Point Explained

Chai Point
Logo Alt:Chai Point Logo
Type:Privately held
Industry:Food & beverage
Founder:Amuleek Singh Bijral
Hq Location:Umiya Emporium, No. 97, 2nd floor, Hosur Main Road,
Hq Location City:Bengaluru 560029, Karnataka
Hq Location Country:India
Num Locations:126
Num Locations Year:May 2018
Area Served:India
Key People:Amuleek Singh Bijral (CEO)
Products:Tea and tea based beverages, coffee, indulgent shakes, snacks, sandwiches, packaged foods, hot beverage dispensers, packaged teas
Revenue Year:150 crore
Profit Year:-->
Num Employees:1200+
Num Employees Year: 2017
Parent:Mountain Trail Foods Pvt. Ltd.
Website:

Chai Point is an Indian tea company and a cafe chain which focuses on tea-based beverages. As of October, 2017, the company also started selling their teas on Amazon.in, making it their first foray into distribution via the e-commerce platform. Chai Point's motto of "India runs on Chai" is apt for Indians' love for tea.

History

Chai Point was founded in Bengaluru, Karnataka, India in 2010 by Amuleek Singh. The name Chai Point is derived from the word Chai which is the Hindi word for tea.[1] Amuleek Singh, the founder and current CEO of Chai Point is a Harvard Graduate. After he obtained his engineering degree from Thapar University, Punjab, India, he worked with Microsoft for some time. After this once he completed his MBA from Harvard, that's when he wanted to work on a startup.

Chai (Tea) is an integral part of a large majority of Indian home and different varieties of teas are also not alien to most of the Indians. Amuleek Singh, however, created an entire ecosystem of making the tea and its packaging more appealing to white collar Indians who were latching on to the high end coffee joints.[2]

Locations

Chai Point has presence in eight Indian cities with presence across retail locations, airports, and business parks. In addition to physical format stores, the chain has a delivery service and a vending based solution called 'Vending as a Service'https://vending.chaipoint.com/' focused primarily at corporation.

Model

Unlike other similar beverage chains, which run on a Basic Franchise Model, Chai Point runs on a company-owned store Model.

Investors

Chai Point raised a total of 71.2 crore ($10 million) in round one of funding in September, 2015. On April 19, 2018, tea retailer Chai Point said it had raised 132 crore ($20 million) in series C funding, its single-largest round so far.[3] Key investors in Chai Point include:

External links

Notes and References

  1. Web site: Get your favourite Chai delivered in 30 mins - Chai Point. chaipoint.com.
  2. News: Balakrishnan. Reghu. 2015-03-31. Harvard, IIT graduates are tea sellers, too. Business Standard India. 2020-12-29.
  3. Web site: Chai Point to invest up to Rs 120 mn, add 30 stores in FY19. 2018-06-22. Business Standard. live. https://web.archive.org/web/20180622172859/https://www.business-standard.com/article/companies/chai-point-to-invest-up-to-rs-120-mn-add-30-stores-in-fy19-118062200948_1.html . 22 June 2018 . 2019-10-27.
  4. Web site: Chai Point raises $20 million in Series C funding from Paragon Partner. www.livemint.com. 19 April 2018 .
  5. News: Chai Point gets $20 million fresh funds from Paragon Partners-led investors. 2018-04-19. The Hindu. 2019-10-27. en-IN. 0971-751X.