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Tpot raises seed funding; to open 30 more outlets in 2016

02-June-2016
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Tpot raises seed funding; to open 30 more outlets in 2016

Tpot, a start-up specialised in the ‘chai-nashta’ segment has secured its seed funding from Ashish Gupta, Founder and Trustee of Ashoka University and Co-founder of Evalueserve and the principal investor at Tpot Café. With the infused fund, Tpot plans to expand its presence by taking its outlet count to over 50 by the end of the year. Currently, there are 20 functional Tpot outlets across the Delhi/NCR region. The fund will be used in channelising the team expansion and on the ideation of introducing innovative products involving tea.

The idea of Tpot was initiated by a team of three young corporate individuals, who turned into food entrepreneurs for their love of ‘chai-nashta’. Going by its current revenue figure of Rs 6 crore, the company has set itself a target of Rs 12 crore by the year end; implying 300 per cent YoY growth. It aims to serve 0.5 million cups of tea per month by December 2016.

Analysing the recent development of the brand Robin Jha, Co-founder and CEO said, “Chai-Nashta is an under-served opportunity in India and is primarily unorganised. Our team has built a strong foundation in Delhi/NCR region. Having gained a good traction of consumers here, we are confident to establish our brand presence in the other markets too,” He further added, “Our motto and value proposition will remain the same. Our customers will get the same Tpot essence in each outlet they choose to visit. It is a favourite hangout place, for smart, casual and family visit.”

Prominent outlets of Tpot are located at T3 Airport Delhi, Rajiv Chowk Metro Station, Makemytrip, Goibibo, BPTP Park Centra, World Trade Tower and Malviya Nagar.

“Being an ardent tea lover, I met Robin at an event and the love for the herbal teas brought us together. Over subsequent meetings, I realized the magnitude of the problem that they were solving,” emphasized Ashish. “I was quite impressed by the concept of Tpot and the team of Robin, Asad and Atit. The team had spent considerable amount of time in understanding the consumer preferences and are capable to create a niche for themselves in this highly fragmented market. Therefore, I decided to be a part of this journey,” he added further.

Tpot plans to realize its target in a phased manner by opening over 50 outlets by Decemebr 2016, and is also planning a muti-city launch by next year. Besides, the company is also expected to go high on packaged tea and delivery of refreshments at home. Through its offerings, Tpot wants to be a part of the growing story of health and wellness market in India.

“With our retail expansion, we are hopeful to expand the team. We are looking to hire a lot of freshers and train them to work with us. This will be our contribution to the ‘Skill India’ initiative of the government. We will also look to do our bit for the society by working for the people in tea growing areas of India,” Robin concluded.

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Prior to joining Madison PR in 2012 Chaudhary was Group President Corporate Communications at Reliance Industries Limited.