- November 23, 2021 / 4 min readThe company will utilise the funds to further expand its biryani brand targeting over 200 outlets by the end of 2024.Biryani by Kilo raises $35 mn from Falcon Edge, SBI
Gurgaon-based Biryani by Kilo has raised $35 million in fresh round of funding from Falcon Edge and State Bank of India (SBI).
The funding round also saw participation from its existing investor IvyCap Ventures, shared a press statement.
Falcon Edge has invested around $25 million for approximately 20% stake, shared reports.
"BBK would also be looking at acquiring other F&B cloud kitchen brands which can be scaled pan India with our expertise in supply chain, technology & marketing," shared Vishal Jindal, Co-Founder, Biryani by Kilo.
The company will utilise the funds to further expand its biryani brand targeting over 200 outlets by the end of 2024.
Co-founded by Kaushik Roy and Vishal Jindal in 2015, the biryani chain is present across Delhi-NCR, Chandigarh, Mumbai, Jaipur, Kolkata, Bengaluru and Pune.
“BBK has built a strong brand with a scalable business model and best-in-class unit economics," added Navroz Udwadia, Co-founder and Partner, Alpha Wave Ventures.
It raised pre-Series A funding from investors in November 2017. Later in 2019, it had secured Rs 30 crore in its Series A round of funding led by venture capital firm IvyCap Ventures in June 2019.
Search for top Restaurant Suppliers in your city