Indian Startup Times’ Post

Boba Bhai Raises Rs 12.5 Cr in Seed Round! Boba Bhai, the leading quick-service restaurant (QSR) brand known for its delicious bubble tea and innovative food offerings, has just secured Rs 12.5 crore in its seed funding round! This investment, led by Titan Capital and Global Growth Capital UK and with participation from a stellar lineup of investors, including Arjun Vaidya, Mars Shot Ventures, DeVC, and more, marks a significant milestone for Boba Bhai's expansion journey. Founded by the visionary Dhruv Kohli in October 2023, Boba Bhai has rapidly carved its niche in the market. Within just six months, the brand has processed over 50,000 monthly orders and expanded to 25 outlets across seven major cities in India, including Delhi, Gurugram, and Bengaluru. With an average order volume of Rs 400 and a unique menu featuring bubble tea and K-Pop burgers, Boba Bhai has captured the hearts of consumers nationwide. Its annual revenue run rate (ARR) of Rs 24 crore and monthly revenue run rate (MRR) of Rs 2 crore underscore its impressive growth trajectory. This funding round signifies confidence in Boba Bhai's potential and reflects the burgeoning trend of innovative QSR concepts gaining momentum in India's vibrant food industry. Stay tuned for more updates as Boba Bhai gears up to revolutionize the QSR landscape domestically and potentially globally! Read More: https://lnkd.in/gMwtr9Q3 #BobaBhai #QSR #BubbleTea #SeedRound #TitanCapital #GlobalGrowthCapitalUK #DhruvKohli #Investment #Expansion #FoodIndustry #Innovation #NewsAlert

🚀 House of Biryan - Biryani, Kepsa and More, a Mumbai-based restaurant chain, has secured $2 million in funding from Al Siraj Holdings SAOC (a Middle East family office), Angel Star Ventures, LLC (a US-based fund from Pennsylvania), and accredited high-net-worth individuals in America. The funds will fuel growth and accelerate the company’s expansion plans. 🌟 Founded in 2022, House of Biryan currently operates 12 kitchens across Mumbai and Delhi, with plans to add 30 more. The platform aims to serve 100,000 orders each month, targeting an annual run rate (ARR) of Rs 100 crore by December 2025. Focusing on popular Indian cuisines like biryani, kebabs, Mughlai, and north Indian dishes, House of Biryan aims to go deep rather than wide with several brands. 📊🌐 #HouseOfBiryan #FoodStartup #Funding #BusinessExpansion #Investment #FoodIndustry #StartupGrowth #BiryaniLovers #BusinessNews #FoodTech #India #BelieveIndia To read more in detail, click below:👇 https://lnkd.in/gVvpPF7J

Renowned investor Ashish Kacholia has acquired a 17.2% stake in the Indian burger chain Jumboking for an undisclosed sum, making him the company's second-largest shareholder. This investment was made through a secondary market transaction following TRITON FUNDS LLC's exit from the firm, which had initially invested in 2018. Industry experts estimate the transaction to be in the range of INR 70 crore to INR 80 crore, valuing the quick-service restaurant chain at approximately INR 400-500 crore. Jumboking reported sales of INR 110 crore in the last fiscal year, operating 170 stores across Mumbai, Delhi, Hyderabad, and Pune. It ranks as India's third-largest burger chain, following McDonald's and Burger King. Dheeraj Gupta, the founder of Jumboking, stated, "Globally, franchising has proven to be the most effective method for scaling a business. While it's a challenging model to master, once achieved, it can unlock exponential growth. Likewise, although burgers are a Western concept, Jumboking has the advantage of catering to the Indian palate more effectively." Read full story here: https://lnkd.in/gSUU2WcN #qsr #investment #foodindustry #burger Wazir Advisors Pakhi Saxena Ashu Agrawal

| Coffea India | Company Registered on Sep 22 First Cafe Opened: 18 Dec 2022 Number of Cafes: FY 22-23: 06 FY 22-23: 39 QSR sales: FY 22-23: 60 Lacs FY 22-23: 9 Cr. Company Revenue: FY 22-23: -28 Lacs ( Losses ) FY 22-23: 86 Lacs ( PAT ) Kill Rate ( Cafe closed ): FY 22-23: 0 FY 22-23: 2 ( The Franchise Partner moved to Dubai, and the other shop was demolished ) Team Size: FY 22-23: 12 FY 22-23: 18 ( by the way Third Wave Coffee Roasters has a staff strength of 1265 employees as per Tracxn ) Total Expense on Marketing till day: 30 lacs Daily Average Cafe sales: 13 thousand ( our cafes break even on 6.2k per day sales. ) Fundraised till now: Coffea: NIL ( we are still bootstrapped, in the process of closing the first round of $ 1 Million ) Third Wave Coffee: $ 66 Million Blue Tokai :$ 46 Million Why wait so long to raise our first round when we would have easily done it? We wanted to bring back a sustainable way of doing business. Raising funds for a PMF is the easiest thing, but making that PMF self-sustainable is a completely different ball game. The Founding team is from a business background ( except me ) and works with a vision of making business with solid foundations. They decided to build something that could survive in the worst conditions. Yes, every business needs external funds for growth. When to raise is the key. If you are an aspiring startup founder, think before entering the rat race of raising funds. ankit Jain

Devyani International Limited and PVRINOX PICTURES announce partnership for operating food court in shopping malls Ravi Jaipuria, Non-Executive Chairman, Devyani International Limited said “This partnership further consolidates DIL’s position in the food courts business in India and has paved the way for additional growth and expansion opportunity." Read more👇 https://lnkd.in/da93EZaJ #digitalmarketing #marketing #socialmedia #business #entrepreneur #branding #socialmediamarketing #contentmarketing #growthhacking #marketingstrategy #growthmindset #leadgeneration #sales #engagement #communitybuilding #influencermarketing #results #impact

Wagamama owner TRG sees share price rise 36% following £700m deal, analyst claims price too low and ‘does not reflect quality of estate’: Wagamama owner The Restaurant Group (TRG) saw its share price rise 36% by the end of trading on the back of the business being set to be taken private in a £700m deal. Apollo is set to pay 65p a share for TRG, reflecting a 34% premium on its share price as of Wednesday’s (11 October) close. TRG's share price jumped 37% to 66p after news of the deal emerged – its highest percentage gain since April 2020 – being finishing the day up 36% at 65.80p. Shore Capital analyst Greg Johnson argued TRG's sale price was too low and doesn't reflect the quality of its estate. “80p per share would be a starting point more consistent with the longer-term opportunity – or maybe we just long for a bygone era for UK equities,” he wrote in a research note. “We do not believe it reflects the quality of the estate (especially having recently exited the challenged leisure business), the freehold asset backing (circa £160m) and the progress it was making across its strategic objectives on margin accretion (250-350 basis points) and deleveraging (under 1.5 times Ebitda).” Liberum analyst Anna Barnfather added: “We understand this was an unsolicited approach that has been bumped up three times from the original offer. Although it could be argued that a circa 30% premium is low in this market, we expect it to be successful due to the cash structure, activist shareholder support, helped by recently market turmoil.” As well as Wagamama, TRG owns Brunning & Price pubs and food concessions at airports – with a total of about 380 sites nationwide. Last month, TRG confirmed it was selling off its loss-making leisure division, which includes Frankie & Benny's and Chiquito, to Big Table Group, which owns Cafe Rouge, Bella Italia, Las Iguanas and Banana Tree

🍜 Apollo Global Management, Inc. snaps up wagamama owner for $623m ✅ The deal suggests an enterprise value of £701m for The Restaurant Group plc, which incorporates Wagamama and the Brunning and Price Pubs Ltd chain, with Apollo agreeing to pay shareholders 65p per share in cash. ✅ Over the past year, the group, which owns about 400 restaurants and pubs across the UK, has struggled with falling margins amid soaring costs and sluggish recovery post-pandemic. ✅ There has also been pressure from shareholders and activist investors Irenic Capital Management LP and Oasis Management Company Ltd. in recent months to change management and improve profitability. ✅ Only last month TRG announced a strategy to offload its leisure business arm, paying the The Big Table Group £7.5m to take its Chiquitos Restaurant and Frankie & Benny's brands off its hands. ✅ Alex van Hoek a partner in AGM's private equity business, added: "This investment aligns with our strategy of backing industry leading companies to drive profitable growth over the long-term.

Ghost Kitchens India Takes a Leap Forward with Acquisition of Shy Tiger Pvt Ltd Brands! We are thrilled to share some groundbreaking news with all of you! Ghost Kitchens India, a pioneering force in the food service industry, has just announced a significant milestone in its journey towards expansion and innovation. Acquisition Announcement: Ghost Kitchens India has successfully acquired Shy Tiger Brands, a prominent cloud kitchen company headquartered in Ahmedabad. This strategic move signifies Ghost Kitchens' dedication to amplifying its presence and offerings in Gujarat's thriving culinary landscape. About Shy Tiger Brands: Founded in 2018 by the visionary entrepreneur Milapsinh Jadeja, Shy Tiger Brands has carved a niche with five multi-brand cloud kitchens across Ahmedabad. Renowned for its iconic brands such as KBOB’s and The Black Chimney, Shy Tiger Brands brings a wealth of culinary expertise and customer loyalty. Strategic Integration: With this acquisition, Ghost Kitchens India aims to seamlessly integrate its existing brands into Shy Tiger's robust infrastructure. This strategic synergy promises to enhance customer experiences, expand market reach, and drive unparalleled growth opportunities in the region. Growth Trajectory: Ghost Kitchens India's acquisition of Shy Tiger Brands follows its recent $5 million equity and debt round in February 2024. Bolstered by a robust foundation of innovation and collaboration, Ghost Kitchens is poised to redefine the food service landscape and capture a larger share of the burgeoning market. Future Outlook: As the food delivery industry soars, Ghost Kitchens India remains at the forefront of transformation and adaptation. With a network of 15 company-owned cloud kitchens in Mumbai and Ahmedabad and 1,200 internet restaurants in 40 cities across India, Ghost Kitchens is primed for exponential growth and unparalleled success. Read More: https://lnkd.in/gpVDACuN #GhostKitchensIndia #ShyTigerBrands #Acquisition #CloudKitchens #FoodServiceIndustry #Innovation #Growth #Expansion #Ahmedabad #MilapsinhJadeja #CulinaryExcellence #IndustryLeadership #StayTuned

2 friends went from selling momos from their garage to building a ₹2125 crore empire Here’s the story of WOW! Momo 🥟: First, let’s understand the industry to get the macro view and see where this FSI is headed. FSI is segmented into quick restaurant services (QSR), Casual Dining Restaurants (CDR), Frozen Foods, Fine Dining Restaurants, and Pubs, Bar, Cafés & Lounge (PBCL). QSR and CDR occupy more than 70% combined market share. The FSI is very fragmented where unorganised sector takes up the larger pie. Yes, the food stalls occupy >50% of the market share. So, the organised players have a large room to mould consumers’ lifestyles and develop their appetite and needless to say, they have been doing this exact thing since Covid. After Covid, people tend to order from hygienic places & trusted brands. This gave these organised players an edge. Almost 30-40% weaker & unorganised FSI players closed permanently. Still, FSI is expected to grow at 9% CAGR by 2025. And this is attributable to a variety of relevant reasons: 👉 Urbanisation: An increase in independent households & nuclearization has led to a shift in consumption patterns with greater consumption of outside food. 👉 Rising income levels: With rising incomes, you need more convenience. And hence, an easy lifestyle. 👉 Innovative offerings: The likes of food tech startups have made consumer’s life easy and convenient with internet penetration. Now, let’s see where WOW! Momos stands in the QSR segment. WOW! Momos was started by two fresh graduates with a vision to start their own business & skip college placements. Binod Kumar and Sagar Daryani sat together to ideate a brand that has the best quality products. Between those brainstorming sessions, they always went back to having noodles/momos to prevent hunger pangs. It is then that it struck them — why not have places aka franchises that sell momos just like franchises of burgers & pizzas that we come across so often. They first started with Sagar taking a loan of ₹30,000 from his father and opening a kiosk in Kolkata. After seeing the success of their first kiosk, they opened a few more in the city & nearby places. WOW! Momos have streamlined its kitchens making the start-to-end process more efficient. They make 5,00,000 momos every day & work with hatcheries to maintain hygiene. What are the few business lessons from these two fresh graduates who decided to take a leap of faith and build something of their own 👇 Instead of waiting for the opportunity to strike your door, start to work on the idea that struck you first. Understand the dynamics of the industry to scale your startup. Word-of-mouth marketing plays in your favour if you've got a good quality product. So in all, we can say that riding this wave of changing food habits and growing appetite to consume outside food, WOW! Momos were able to capitalize on this. Liked this read? Do share it with others and follow FinFloww for more ❤️ #FinFloww

The Indian bakery market size reached US$ 11.3 Billion in 2022, and expected to reach US$ 28 Billion in 2028. This is a result of the influx of International cafes and bakery chains, on the go food outlets etc. Under the incredible leadership of young / emerging business tycoons in food industry, India is becoming an attractive destination for business owing to growing digitalization, urbanisation, technological advancements, globalisation, favourable demographics and major law reforms.