Chai Point
{{short description|Indian tea company and cafe chain}}
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{{Use Indian English|date=April 2016}}
{{Use dmy dates|date=April 2016}}
{{Infobox company
| name = Chai Point
| logo = Chai Point.svg
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| logo_alt = Chai Point Logo
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| type = Privately held
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| industry = Food & beverage
| founded = {{start date and age|df=yes|2010}}
| 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
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| revenue =
| revenue_year = 150 crore
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| num_employees = 1200+
| num_employees_year = 2017
| parent = Mountain Trail Foods Pvt. Ltd.
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| website = {{URL|http://chaipoint.com/|Chai Point}}
{{URL|http://boxc.in/|BoxC}}
}}
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.{{cite web|url=http://chaipoint.com/about.html|title=Get your favourite Chai delivered in 30 mins - Chai Point|website=chaipoint.com}} 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, he wanted to work on a startup.{{Citation needed|date=November 2022}}
Chai Teas{{Cite web |last=Jha |first=Gaurav |date=2023-11-16 |title=The Benefits of Drinking Chai Tea for Digestion |url=https://www.thepahadistory.com/blogs/health/the-benefits-of-drinking-tea-for-digestion |url-status=live |access-date=2025-01-10 |website=The Pahadi Story}} 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.{{Cite news|last=Balakrishnan|first=Reghu|date=2015-03-31|title=Harvard, IIT graduates are tea sellers, too|work=Business Standard India|url=https://www.business-standard.com/article/companies/harvard-iit-graduates-are-tea-sellers-too-115033100023_1.html|access-date=2020-12-29}}
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. {{Citation needed|date=November 2022}}
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.{{cite web|url=https://www.business-standard.com/article/companies/chai-point-to-invest-up-to-rs-120-mn-add-30-stores-in-fy19-118062200948_1.html|title=Chai Point to invest up to Rs 120 mn, add 30 stores in FY19|last=|first=|date=2018-06-22|website=Business Standard|url-status=live|archive-url=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 |archive-date=22 June 2018 |access-date=2019-10-27}} Key investors in Chai Point include:{{citation needed|date=July 2021}}
- Eight Road Ventures (Lead Investor, formerly Fidelity Growth Partners India)
- DSG Investors
- Saama Capital
- Paragon Partners {{cite web|url=https://www.livemint.com/Companies/Y6tp0qIx8FVbbaOZVFU1XN/Chai-Point-raises-20-million-in-Series-C-funding-from-Parag.html|title=Chai Point raises $20 million in Series C funding from Paragon Partner|website=www.livemint.com|date=19 April 2018 }}{{Cite news|url=https://www.thehindu.com/business/Industry/chai-point-gets-20-million-fresh-funds-from-paragon-partners-led-investors/article23603507.ece|title=Chai Point gets $20 million fresh funds from Paragon Partners-led investors|date=2018-04-19|work=The Hindu|access-date=2019-10-27|language=en-IN|issn=0971-751X}}
References
{{Reflist}}
External links
- [https://www.instagram.com/chai_point/?hl=en Instagram account]
- [https://www.chahshala.com/best-kullad-chai-Point-in-gtb-nagar-delhi/ Tea and cafe point in Gtb nagar delhi]