Nayanthara and Vignesh Shivan, the lovebirds of Kollywood, have invested in the Chennai-based beverage brand Chai Waale. Existing and new investors contributed a total of 5 crores to the brand in a new round of funding. Others include angel investors Sunil Sethia, Sunil Kumar Singhvi, Manish Mardia, and the UNI-M Network, a Mumbai-based angel network. In addition, private companies such as Unlisted Kart LLP played a significant role in this round of funding.
‘Around 80% of the current funding will be used to expand physical stores. By the end of the year, we hope to have 35 fully operational stores. The rest of the funds will be earmarked for marketing, expansion of back-end systems & managerial team,’ said Vidur Maheswari, founder, Chai Waale.
‘We increased our digital marketing and e-commerce budgets during the unlock phases in order to acquire a new online customer base in addition to our existing loyal customer base. Given the strong set of investors, we are optimistic about our growth trajectory in the coming year,’ he added. It’s also worth noting that Chai Waale now has 20 locations in Chennai including Anna Nagar, Kilpauk, Alwarpet, and Adyar.