Azure Hospitality gets Rs 65 cr funding from Goldman Sachs

Azure Hospitality - which owns restaurant brands Mamagoto, Rollmaal and Speedy Chow - has raised Rs 65 crore from global investment banking firm Goldman Sachs as part of its expansion plans.
Azure will use the investment to further expand its three restaurant brands throughout India and in select markets abroad, the company said in a statement.
Commenting on the development, Azure Hospitality Co-founder and Director Kabir Suri said: "This landmark investment for our company will allow us to aggressively execute on our planned, strategic expansion."
Stating that the young people in India are open to various cuisines, company's Co-founder and Director Rahul Khanna said: "India's young, billion-plus population is undergoing a revolution in terms of experimentation with diverse cuisines, driven by online and mobile food ordering services."

Partnering with Goldman Sachs allows "entrepreneurs like ourselves to make our most ambitious dreams match India's massive consumer scale and tremendous market opportunity," he added.
Through this most recent partnership with Azure, the investment banking firm intends to leverage its global expertise in the sector to help create a large, differentiated leader in India's rapidly growing F&B industry, Goldman Sachs Co-Head of private equity in Asia Ankur Sahu said.
Established in 2009, Azure Hospitality Pvt Ltd was co- founded by food and hospitality-focused entrepreneurs Kabir Suri and Rahul Khanna.