Deepika Padukone, an actress, has entered the business world by making an investment in the locally produced coffee firm Blue Tokai Coffee Roasters, which is an interesting move in the world of startups and celebrity endorsements.
Ka Enterprises has joined Blue Tokais 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.
Homegrown microblogging platform Koo is looking for fresh funding or a strategic partnership to further its “next phase of growth,” cofounder Mayank Bidawatka said on Friday.
In January, Blue Tokai had said it will use the funds to scale the business and expand its global presence in specialty coffee markets. In addition, the company said it would also introduce new FMCG products.
According to new-age brand founders, many young consumers prioritize brand narratives over products when making buying decisions. They believe that their stories convince consumers for repeat purchases, while others argue that it is the product itself that solves a problem for consumers. Founders of D2C and new-age companies believe that consumers are looking for transparency and resonate with the stories of brands they can be a part of.