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January 8, 2020updated 09 Jan 2020 10:08am

India tea retailer Chai Kings receives funds for expansion

India-based tea retailer Chai Kings has received new investment from The Chennai Angels (TCA) along with Hyderabad Angels and TiE India Angels.

India-based tea retailer Chai Kings has received new investment from The Chennai Angels (TCA) along with Hyderabad Angels and TiE India Angels.

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The company is planning to leverage the investment to target its expansion into newer Indian markets, including Bengaluru, Hyderabad and Coimbatore.

Initially, the retail chain will have four stores in Hyderabad and three in Coimbatore. It expects to have 50 stores in these three cities by the end of February.

Chai Kings CEO Jahabar Sadique is quoted by The Times of India as saying: “We are happy with the success and progress of our brand in Chennai, and this funding round will help us expand into newer cities.

“We hope to enter Coimbatore, Bengaluru, and Hyderabad in this year, and get closer to our target of 100 stores in five years. Apart from expansions, the bulk of this funding will be utilised to strengthen our operations and supply chain management.”

This is the second round of funding for the startup retailer, which raised $279,000 in August 2018.

Founded in 2016, Chai Kings currently sells more than 25,000 cups of tea a day through its 40 stores across India.

Intuit Management Consultancy founder Piyush Bhandari, who led the investment for The Chennai Angels, was quoted by The Hindu as saying: “We believe the company has a strong leadership team with immense potential to grow and expand across India.

“The new investment reiterates our commitment towards building a sustainable and scalable Indian Quick Service Restaurant.”

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Walmart: Going Beyond Company Disclosures

Walmart has rounded out its fiscal year with a strong set of numbers that show it has taken supply chain disruption, rising costs, heavy inflation, and various other problems in its stride. There is comfortable growth on both the top and bottom lines, which is extremely respectable given tough prior year comparatives. Walmart hiring is slowing down as compared to hiring in the months of April and March in 2022. Walmart posted close to 40,000 vacancies in March and 30,000 in April, which has gone below 10,000 in June 2022. Walmart Company Filings has most of the mentions related to the ESG and COVID-19 themes in 2021. ESG has more than 300 mentions in the company’s 2021 filings which indicates the rising focus on ESG-related issues. Our report on Walmart: Going Beyond Company Disclosures, demonstrates GlobalData Explorer’s ability to:  
  • Track and monitor a company’s movements through alternative indicators to gain insights into the strategy before it is disclosed by the company
  • Gain insight into a company’s capital deployment strategy, by assessing historical deal volumes and specific transactions executed by the company, in addition to identifying sectors of focus
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by GlobalData
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