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Biryani by Kilo to raise USD 6-8Mn in its series A funding

Business Finance

ANI  |  New Delhi [India] 

Biryani by Kilo (BBK), a premium Biryani chain founded in 2015 by two veterans of industry Kaushik Roy and Vishal Jindal is now gearing up to raise around USD 6-8 million for the second time this year.

This Series A funding will give a major boost to BBK's expansion plan across India and join the Rs. 100 crs+ topline club by 2020 with its coffers showing healthy profits.

BBK has a strategic plan to establish a strong pan-India footprint and expand into select international markets like UAE & UK in the next 3 to 5 years. They aim to build a network of 120+ outlets generating a collective revenue of Rs. 450 crore+ by FY 2022-23.

Both Vishal and Kaushik are passionate about the brand and possess ingrained expertise and experience in hospitality operations, strategy and finance. With the support of 450+ team members currently, BBK has already clocked a monthly revenue run rate of Rs. 3 crs+ from 14 outlets in Delhi/NCR, Mumbai, and Chandigarh. Their aim is to achieve Rs. 40 cr.+ in sales by the close of this financial year.

Earlier in June this year, BBK raised a Pre Series A investment led by Mr. Ajay Relan, Founder & Chairman CX Partners and Mr. Vinay Mittal who has had senior Strategy/Finance roles from HT Media, EXL & Max India. In the past, BBK has received funds from investors, including Chandigarh Angels Network, ex-Evalueserve Chief operating officer Ashish Gupta, GlobalLogic's Sunil Singh, Thapars and senior executives from leading Financial & Legal Firms.

BBK was launched with an intent to preserve the Khansama style of cooking, wherein each meal/biryani is freshly cooked with rich ingredients, unlike other brands where the food is cooked in bulk and repackaged & sold.

BBK is a premium delivery brand with 100% focus on delivering every order on time and offers rich customer experience which the patron would have received at a fine dining restaurant by paying an exorbitant price. BBK also plans to open select Dine in outlets in Tier I & II cities for customers to experience the brand even better.

Both Biryani category and Food Delivery have enormous potential and BBK is at the vantage point to expand both and create a worldwide Food Services Company from India. Zomato and Swiggy are Unicorns now & doing close to 1M Food deliveries each daily, and India Food Delivery market is going to further expand exponentially.

Biryani is expected to be the largest category in food delivery space in India as during FIFA World Cup, 2018, Biryani was the most frequently ordered dish and had surpassed pizza. Biryani Category caters itself especially very well for delivery by retaining its freshness, aromas & flavors after delivery and being wholesome and balanced meal makes Biryani the prime category for food delivery.

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

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First Published: Sat, December 01 2018. 18:20 IST