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Burma Burma raises another $2 Mn

Entrackr · 3m

Burmese vegan restaurant chain Burma Burma has raised another round of $2 million in equity investment from several family offices including Negen Capital. Earlier in November 2022, the startup had raised $2 million in its seed round led by Negen Capital and others. Founded by Ankit Gupta and Chirag Chhajer, Burma Burma Restaurant and Tea Room makes Burmese cuisine accessible to all and the brand is now fulfilling its vision of going beyond just a restaurant and providing its patrons with a new, wholesome and dining experience that interacts on various levels. The Mumbai-based company claims to spread quickly to the other five metros, Delhi, Noida, Gurugram, Bengaluru and Kolkata and is looking at expanding its presence in the country. Burma Burma operates 13 restaurants and delivery kitchens across India, including key locations in Delhi, Gurugram, Noida, Mumbai, Bengaluru, Hyderabad, Kolkata and Ahmedabad. Over the past year, the firm claims to have experienced significant growth, doubling its footprint and annual recurring revenue (ARR) from Rs 46 crores in FY23 to over Rs 100 crores in FY24. As per the company, it has clocked an EBITDA of over 13% in July and aims to hit a monthly EBITDA of over 15% for FY25.