Chai Point, a Bangalore, India-based operator of chain of tea and snacks stores, raised $20m in Series C funding.
The round was led by Paragon Partners with participation from existing backers Saama Capital, DSG Consumer Partners and Eight Road Ventures.
The company intends to use the funds to expand operations.
Founded in 2010, Chai Point brings brewed cups of Chai made with fresh, natural ingredients to offices and working professionals around the country. The company and a retail chain with over 100 stores across eight cities, Bangalore, Delhi, Gurgaon, Noida, Mumbai, Pune, Hyderabad and Chennai. Its offerings include varieties of hot Chai, Iced Chai, Shakes and bite-sized Made-For-Chai Snacks accompanying Chai ritual (Multigrain biscuits, Mathri, Cake Rusk, Quinoa Puff, Gud Chana, Masala Peanuts and Cornflakes Mix).