The Delhi-based foodtech startup, Tpot, focused on serving the ‘chai-nashta’ segment has raised an undisclosed amount in pre-series A funding.
This round of funding was led by principal investor, Ashish Gupta, Founder & Trustee of Ashoka University. Earlier in May 2016, Gupta had invested an undisclosed amount in seed funding for the company.
Talking about the investment, Gupta said, “The concept of Tpot Cafe of reaching out to everyone at the same time is unique to the market, and has resulted in extremely rapid growth to date. We are excited to extend our association with the team as they continue to strengthen their market leadership and drive further exciting growth opportunities.”
The funds from the new round of funding will be used in expanding the business further. At this point, they have about 7 outlets in the capital city, but they’re looking to expand even further by adding 19 more outlets by the end of the year. They also hope to have 200 outlets open by March 2018 including at various corporate offices, metro stations and hospitals. “We plan to realise the target in a phased manner by opening over 40 outlets by the year end, and are also planning multi-city launches by opening 150-200 outlets by 2018,” Robin Jha added.
Launched in 2013, Tpot was founded by Robin Jha, Asad, and Atit and serves around 40 varieties of tea including kadakdesi chai to Darjeeling organic tea, masala khullad to white teas. Their snacks menu is also quite extensive with a mix of Italian, Thai and Mexican cuisine tailored to suit the Indian palate. The founders also believe that chai-nashta is under-served opportunity in India which is mostly unorganised.
Other than their existing offerings, the company is also looking to introduce a range of packaged teas and delivery services of refreshments to your home.