Funding: Biryani By Kilo Secures $ 35 Million Funding Led By Alpha Wave Ventures

Food delivery brand Biryani By Kilo (BBK) has raised $ 35 million in its Series B funding round led by Alpha Wave Ventures, Falcon Edge’s venture capital firm.

SBI and existing investor IvyCap Ventures also participated in the round.

The Gurugram-based company was founded in 2015 by Vishal Jindal and Kaushik Roy and has more than 60 outlets in more than 25 cities.

The company will use the funds to further develop its biryani brand by targeting more than 200 outlets by the end of 2024.

In addition, BBK is looking to expand into international markets and use the capital to acquire other brands of F&B cloud kitchens.

Dine-in currently contributes 10% of its turnover. His rate of income for the current fiscal year is Rs 150 crore.

ROCKSTARS STARTUP IN 2021

Log in to see our list of the most promising startups of 2021



Navroz Udwadia, Co-Founder and Partner of Falcon Edge Capital, said: “BBK has built a strong brand with a scalable business model and a world-class unity economy. ”

Falcon Edge also recently invested $ 15 million in cloud kitchen startup Hygiene BigBites, ET reported in October.

Cloud kitchens – cooking units dedicated to picking delivery orders only – have flourished in the wake of the Covid-19 pandemic.

Total funding for cloud kitchen startups doubled in 2021 to $ 234.2 million in October, from $ 112.4 million for all of 2020, according to data from industry tracker Tracxn.

Cloud kitchen company Rebel Foods is also planning to expand its brands internationally.

In October, he announced a partnership with food and grocery delivery company Foodpanda to advance existing brands in international markets by allowing Foodpanda partner restaurants to plug in and use Rebel Foods brands to expand. sources of income.

ET reported earlier this month that delivery-focused and online food brands have exploded over the past 18-24 months as they have become a cost-effective way to maintain business continuity and expand reach. customers in a sector that has been hit hard by the pandemic.

Although businesses are reopening as the pandemic subsides, delivery-only brands provide a solid source of income, catering to people who prefer to order locally rather than eat out.

Stay on top of new technologies and startups that matter. Subscribe to our daily newsletter to receive the latest must-see tech news, straight to your inbox.

About Clara Barnard

Check Also

Phantoms reused their sneakiest trick

The Young Justice: Phantoms finale sees the HBO Max series re-use Alpha Team’s most devious …