Deepika Padukone
THE ECONOMIC TIMES (September 16, 2023)

New Delhi: Actress Deepika Padukone’s venture firm Ka Enterprises has invested an undisclosed amount in speciality coffee company Blue Tokai, the Gurgaon-based company said on Friday.

Ka Enterprises has joined Blue Tokai’s Series B round announced in January this year, in which it raised $30 million at a valuation of around Rs. 650 crore. A91 Partners led the round.

Other investors that had participated in the round include Anicut Capital, 8i Ventures, DSP Blackrock, Negen Capital, Mauryan Capital and White Whale Ventures.

“We have followed the brand’s growth very closely over the past decade and observed their vision and commitment to quality and innovation and are therefore thrilled to partner with them on their journey of making Indian specialty coffee accessible, delivering unparalleled coffee experiences and putting it onthe global map,” Padukone said in a statement.

Ka Enterprises has previously backed startups such as Atomberg Technologies, BluSmart, Purplle, Epigamia and Bellatrix Aerospace.

“The coffee industry in India is in an extremely interesting phase right now, and with Blue Tokai leading the specialty coffee movement, we are experiencing a remarkable shift in consumer preferences,” said Jigar Shah, the investment firm’s head of investment.

Blue Tokai competes in the crowded speciality coffee business which includes companies such as Third Wave Coffee Roasters, which last year raised $20-25 million. These startups compete with chains such as Starbucks, Cafe Coffee Day and Barista.

“We are glad to welcome Deepika and Ka Enterprises to the Blue Tokai family. Their thorough understanding of the D2C space and strategic investments are a testament to their strong business acumen, we are excited to have them join us on the next phase of growth,” said Matt Chitharanjan, CEO, Blue Tokai.