Raghav Verma, co-founder of Chaayos, studied chemical engineering on the Indian Institute of Technology, Delhi, the place he acquired each his Bachelor’s and Master’s levels.
Even within the sweltering warmth, many individuals nonetheless love this beverage since chai and Indian tradition seem to have a singular connection. IIT graduates from Delhi who noticed a necessity for a series centred on chai within the Indian market based Chaayos, an organization with a 134.9 crore rupee annual gross sales. This is the story of Raghav Verma, co-founder of a profitable, multi-billion greenback chai business.
Who is Raghav Verma?
Raghav Verma, co-founder of Chaayos, studied chemical engineering on the Indian Institute of Technology, Delhi, the place he acquired each his Bachelor’s and Master’s levels. Co-founder Nitin Saluja had the idea to begin a tea store that would supply actual and personalised chai in a comfortable and welcoming setting. Two years later, whereas working on the US consulting firm Opera Solutions, Nitin spoke together with his buddy and coworker Raghav Verma about this formidable idea.
Nitin and Raghav left their profitable positions in 2012 to begin their very own business, motivated by their love of tea and want to do one thing particular. They gave their business the identify “Chaayos,” a mix of the phrases “chai” (Hindi for tea) and “chaos” (to signify the experimental character of their chai recipes).
Raghav Verma’s entrepreneurial journey
Raghav Verma co-founded PrepSquare, nonetheless, because of his passionate entrepreneurial spirit and vital curiosity in the usage of expertise in quite a lot of fields. He spent two years with Opera Solutions as a business analyst. Raghav was on the Forbes 30 Under 30 Asia listing as nicely.
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Chaayos’ journey started with the opening of its first location in Delhi’s DLF Cyber City in November 2012. Customers responded nicely to their distinctive technique for chai and the cosy environment of their cafés, which sparked quick improvement.
Today, Chaayos has greater than 200 areas all through India’s essential metropolises, providing round 100,000 cups of chai day by day, Financial Express reported. The chai chain has areas in Bengaluru, Mumbai, and Delhi-NCR. In a sequence C spherical final yr, the business secured 53 million {dollars} at an undisclosed worth.
According to Money Control, the projected price was within the vary of 240–250 million {dollars} (about Rs. 2051 crore) in 2022, though the corporate didn’t reveal the valuation at which it raised the funds. The business reported gross sales of Rs 134.9 crore for FY 2022.
