The funding is led by led by Paragon Partner. Siddharth Parekh, Co-Founder and Senior Partner, Paragon Partners will also be joining the Board of the Company.

CHAI POINT announced a $20 million Series C funding round, led by Paragon Partners. Chai Point is India’s largest organised brand in the Rs 1.5 Lakh crore Chai market targeting one billion Indians. With the average per capita consumption of the beverage increasing at a steady rate of 20-30 percent, the market is ever expanding. The Company delights its customers with 0.3 million cups of Chai a day across all its channels – stores, delivery, and dispensers – and is poised to do 5X more in the next 3 years.

Commenting on the investment, Amuleek Singh Bijral, Co-founder and CEO, Chai Point said “This funding round is primarily aimed at further strengthening the brand’s multi-channel go-to-market. A substantial portion of our investment proceeds will go towards deepening our sales, marketing, and service operations for our automated hot beverage dispensing business - boxC.in - which is the next growth driver for the business. Also, we look forward to delighting our customers with an, especially enhanced food menu. “

Siddharth Parekh, Co-Founder and Senior Partner, Paragon Partners, said: “ We look forward to working with the Chai Point team and helping them scale up their operations. This investment is in line with our overarching investment theme of partnering high-calibre entrepreneurs with compelling business models.”

Parekh will also be joining the Board of the Company. DCS Advisory India (earlier Signal Hill Capital) was the exclusive advisor to the company for this fundraising.