Burger Singh, an India-based leading burger chain has announced the fundraise of Rs 30 crore in series A round funding led by Negen Capital in participation with Lets Ventures, Mumbai Angels, Rohit Khattar’s Old-World Hospitality, and Jasleen Royal.
The round also saw involvement from existing investors RB Investments, Rukam Capital, KCT Family Office, and V.M. SALGAOCAR family office (Goa).
The company aims to deploy these funds towards its expansive growth plans to launch an additional 120 food court outlets in FY 23.
Speaking on the fundraise, Kabir Jeet Singh, CEO & Founder of Burger Singh said “Our ideology has always been to provide sustainable growth to our investors. Our compelling business model has sailed steadfast through two unprecedented global events – the pandemic and inflation. With this round, both current and new investors have once again supported our mantra. We would rather be the winning tortoise of the QSR race than the cursory ill-fated rabbit.”
The company achieved the right unit-level economics and is scaling rapidly, registering a 223% growth in the past year with the launch of 50 outlets in 2020.
Speaking on the investment round, Neil Bahal, Founder & CEO of Negen Capital, said, “Kabir and his team have built Burger Singh with excellent unit level economics which is at par, if not better than, some of the MNC burger chains too.”
“The QSR space in India is a very exciting proposition right now due to the Indian consumption landscape moving to the next stage of evolution. Powered by 360 million millennials and dramatically improved unit level economics have made the industry very attractive for investors like us that want to invest in high growth, predictable and profitable startups,” he added.
Burger Singh is the largest chain of homegrown burgers in India with a strong presence in West & North India. They have 80+ outlets in Delhi NCR, Lucknow, Jaipur, Dehradun, Jammu, Nagpur, Ahmedabad, Jhansi, Chandigarh, Amritsar, and others with another 12 franchises under fit-outs across the country.