Beverages chain Chai Wale on Friday said actor Nayanthara and film producer Vignesh Shivan, along with other angel investors, have infused Rs 5 crore in the firm.
This is the second round of funding for the company and will be deployed to expand the chain of quick service restaurants into Chennai, as per an official statement.
Other investors include Sunil Sethia, SunilKumar Singhvi, Manish Mardia and angel network UNI-M Network, as per the statement.
“Eight per cent of the current funding will be utilised in physical store expansion. We aim to have 35 fully functioning stores by the next year.
Also Read: Flipkart launches first ‘Ekartians with Disabilities’ delivery hub
“Rest of the funds will be earmarked for marketing, expansion of back-end systems and managerial team,” its founder Vidur Maheshwari said.
Also Read: Six business lessons every entrepreneur can learn from JRD Tata
The brand is planning to set up shop in places with high footfalls including Metro stations and malls, at the same time it is leaning towards fulfilling the tea and snack needs of the entire family, it said.
It has also added soups, momos and an additional range of sandwiches to its menu recently and plans to introduce ice-tea and desserts in the future.
