Chai Point, run by Mountain Trail Foods, expects to expand its outlet footprint and its corporate sales channel aggressively. Ltd, which owns the Chai Point chain of tea stores, plans to raise more than $10 million in a Series C round of funding, which it expects to close in the first half of 2018. In 2015, Chai Point raised nearly $10 million in its Series B funding, led by Fidelity International Ltd’s investment arm Eight Roads Ventures, DSG Consumer Partners and Saama Capital India Advisors LLP. There are currently close to 90 Chai Point outlets spread across Bengaluru, Hyderabad, Mumbai, Pune and Delhi. It expects to deploy 3,000-5,000 boxC machines next year as it seeks to tap further into India’s massive tea market.

Source: Mint December 06, 2017 22:41 UTC