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Exclusive: Former TPG exec plans food platform, in talks with biryani, pizza chains

VCCircle

VCCircle · 10m ago

Exclusive: Former TPG exec plans food platform, in talks with biryani, pizza chains

Former TPG executive Vish Narain is launching a food platform through his investment firm, Pulsar Capital. The Dubai-based firm is in discussions with multiple acquisition targets, including biryani and pizza chains, in order to build its food platform in India and the Middle East. Narain previously worked as a partner at TPG, a global private equity firm.

Related News

Exclusive: Biryani By Kilo Raises $2 Mn From Pulsar Capital

Inc42 · 8m ago

Exclusive: Biryani By Kilo Raises $2 Mn From Pulsar Capital

Biryani By Kilo, a cloud kitchen startup, recently raised funding at a valuation of around $100 million. The funding appears to be a part of a larger round that the company is currently raising. Pulsar Capital, a private equity firm led by Vish Nair, a former partner at TPG, is one of the investors in the company. Pulsar Capital's current portfolio includes TruDoc, a healthcare provider, and Assidus, an ecommerce enabler.

Exclusive: Curefoods receives nearly $10 Mn from Binny and Jitender Kumar Bansal

Entrackr

Entrackr · 10m ago

Exclusive: Curefoods receives nearly $10 Mn from Binny and Jitender Kumar Bansal

Cloud kitchen startup Curefoods has raised another Rs 80 crore or $9.6 million but this time in debt from Binny Bansal and Jitender Kumar Bansal. This is the second fundraise for the Bengaluru-based company in the past six months. As per the ROC filings company obtained a loan of Rs 80 crore from Binny Bansal and Jitender Kumar Bansal by way of advancing an unsecured member deposit as per the terms set out in the loan agreement between the company and the two investors. In March, Curefoods scooped up $25 million as a part of Series D funding from Three State Ventures, a fund launched by the Flipkart co-founder. As per startup intelligence platform TheKredible, it has raised more than $200 million to date. According to a Moneycontrol report, Curefoods is in talks to raise $40 million as part of its Series D round in a mix of primary and secondary transactions. The company’s valuation might reach the $500 million mark. Launched in 2020, Curefoods operates brands like EatFit, Yumlane, Aligarh House Biryani, Masalabox, and CakeZone. It has over 100 kitchens in over 200 locations across 15 cities serviced by a backend operation of over 7 food factories, and 150 multi-brand cloud kitchens. Besides back-to-back fundraising, the company also acquired two brands – YumLane Pizza and Millet Express in 2023. In December, it invested Rs 10 crore ($1.2 million) in Hogr, a social platform that enables restaurant and food discovery. Curefoods has emerged as the second largest player in the cloud kitchen after Reebel Foods. Curefoods reported Rs 384 crore in revenue in FY23 while its FY24 numbers are yet to come. Rebel Foods’s operating revenue reached Rs 1,420 crore in FY24. EatClub and Biryani By Kilo are the next notable companies in the space with revenue of more than Rs 300 crore in FY23.

[EXCLUSIVE] Former TPG NewQuest exec launches equity fund to revive dying startups

YourStory

YourStory · 9m ago

[EXCLUSIVE] Former TPG NewQuest exec launches equity fund to revive dying startups

Former TPG NewQuest MD, Sachin Khandelwal, is reportedly launching Sporos Capital, an equity fund focused on supporting tech-enabled companies during the current funding slowdown for growth-stage startups. Sporos Capital, which will be a Category II Alternative Investment Fund with a ₹600 crore corpus, aims to revive struggling startups that have difficulty raising capital. The fund's entry into the market during the funding downturn reflects an effort to seize opportunities and replicate growth seen after the dot-com bubble. Sporos Capital is expected to deliver 5x to 8x returns with over 30% IRR.

Former TPG NewQuest exec floats PE fund for growth stage bets

VCCircle

VCCircle · 10m ago

Former TPG NewQuest exec floats PE fund for growth stage bets

A former executive of TPG NewQuest, a part of private equity firm TPG, has launched a new firm to invest in startups, growth stage companies, and public firms. TPG NewQuest has previously invested in companies like ShadowFax, Halonix Technologies, and U Gro Capital. The new firm aims to make strategic investments in promising ventures.

Rebel Foods to take Oven Story Pizza offline, to set up over 250 franchise outlets

Thehindubusinessline

Thehindubusinessline · 1y ago

Rebel Foods to take Oven Story Pizza offline, to set up over 250 franchise outlets

Rebel Foods, the company behind cloud-kitchen and digital brands, is expanding its flagship brand, Oven Story Pizza, in the offline market through franchising. By opening 250-300 outlets in the next few years, Rebel Foods aims to compete with global pizza chains in India's fast-growing pizza segment. The company is targeting tier-2 and tier-3 markets, where there are untapped opportunities due to increasing disposable incomes and consumer preferences for national food brands. Rebel Foods has witnessed healthy growth across its locations and credits its Food-Court App, EatSure, for fueling this growth.

Jaydeep Barman’s on a (Kolkata chicken) roll that won’t ever stop

Livemint

Livemint · 11m ago

Jaydeep Barman’s on a (Kolkata chicken) roll that won’t ever stop

Rebel Foods, the cloud-kitchen platform valued at $1.4 billion, has expanded to 75 cities in India and is also present in the UAE, Saudi Arabia, and the UK. The company houses multiple brands, including Faasos, Behrouz Biryani, Oven Story Pizza, Sweet Truth, and Lunch Box. Rebel Foods aims to continue scaling and believes there is no endgame, as it can keep adapting to new food trends and remain relevant as long as people are eating.

Devyani International to acquire majority stake in 'Biryani by Kilo'

YourStory

YourStory · 3m ago

Devyani International to acquire majority stake in 'Biryani by Kilo'

Devyani International Ltd, a significant operator of franchise restaurants like KFC, Pizza Hut, and Costa Coffee, plans to acquire a majority stake in Sky Gate Hospitality, which runs 'Biryani by Kilo', through regulatory agreement. The acquisition will expand Devyani’s portfolio, adding to their existing brands including Vaango. Founded in 2015, 'Biryani by Kilo' has over 70 dine-in outlets and other brands, enhancing Devyani's reach in India’s QSR market.

India KFC operator Devyani International posts 43% drop in Q2 profit

Reuters · 1y ago

India KFC operator Devyani International posts 43% drop in Q2 profit

Indian fast-food operator Devyani International reported a 43.2% decline in quarterly profit due to increased raw material costs at their KFC and Pizza Hut chains. The company's net profit fell to 333.5 million rupees ($4.01 million) for the second quarter, despite a boost in demand from promotions. Devyani's revenue, however, rose 9.6% to 8.19 billion rupees, driven by special offers at KFC and Pizza Hut. Rising ingredient prices and high inflation have impacted the company's performance, along with a general slowdown in consumer spending in India.

Grapevine: BlueStone ropes in bankers for IPO; former TPG exec to launch fund

VCCircle

VCCircle · 9m ago

Grapevine: BlueStone ropes in bankers for IPO; former TPG exec to launch fund

Jewellery startup BlueStone has enlisted Axis Capital, IIFL Securities, and Kotak Mahindra Capital to handle its $200 million IPO scheduled for Q2 2023. In other news, a former TPG executive is launching a fund.

Foodtech startup EatSure partners with IRCTC to deliver foods; Know the station names

IndianStartupNews

IndianStartupNews · 1y ago

Foodtech startup EatSure partners with IRCTC to deliver foods; Know the station names

Foodtech startup EatSure has partnered with the Indian Railway Catering and Tourism Corporation (IRCTC) to offer passengers a wide range of food options during train journeys. The facility, accessible through the EatSure app, allows travelers to order food from multiple brands in a single order. The service is currently available at 100 railway stations in over 75 cities including Hyderabad, New Delhi, Jaipur, Kolkata, and Mumbai. Popular brands such as Behrouz Biryani, Faasos, and Oven Story Pizza are part of the offerings. Orders can be placed well in advance or just an hour prior to reaching the next station.

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