Delhi-based Sunshine Teahouse’s cafe chain, Chaayos, has raised Rs 81 crores ($12m) in a Series B round of funding led by marquee venture capital firm SAIF Partners, Hong Kong based Integrated Capital and Singapore based growth stage investment firm Pactolus, reported VC Circle and Economic Times. Earlier in 2015, Chaayos had raised $5m in its Series A round led by Tiger Global along with participation from Ola co-founders Bhavish Aggarwal and Ankit Bhati.

IndusLaw acted as the legal counsel to Chaayos’ parent firm Sunshine Tea House and its founder Nitin Saluja, and was represented by partner Gaurav Dani, principal associate Jinni Sinha, senior associate Nikita Goyal and associate Neha Balodhi.

Shardul Amarchand Mangaldas acted as the legal advisors to SAIF Partners India and Integrated Asset Management (Asia), led by partners Amit Khansaheb and Vishruta Kaul along with senior associate Manav Chadha.

Founded in November 2012 by IIT Bombay alumnus Nitin Saluja and IIT Delhi graduate Raghav Verma, Chaayos has over 52 outlets across 7 cities. The latest funding shall be used by the parent firm to fulfil its aim of doubling the month on month revenues by expanding its chain of tea cafes in existing cities of Delhi-NCR, Mumbai and Chandigarh.

2018-09-05