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Good Flippin’ Burgers raises capital from Tanglin Venture

EntrackrEntrackr · 1y ago
Good Flippin’ Burgers raises capital from Tanglin Venture
Medial

Quick service burger chain Good Flippin’ Burgers has raised Rs 30 crore (approximately $3.6 million) in an extended Series A round from its existing investor Tanglin Venture Partners. The board at Good Flippin’ Burgers has passed a special resolution to issue 34,366 Series A1 cumulative compulsory convertible preference shares at an issue price of Rs 8739.56 each to raise Rs 30 crore, its regulatory filing accessed from the RoC shows. With this, the company has secured $8.6 million to date including a $4 million Series A round led by Tanglin Venture Partners in June 2023. According to TheKredible estimate, the company has been valued at around Rs 400 crore or $48 million (post-money). This marked a 3X growth in the valuation when compared to its last funding. Founded by Viren D’silva, Sijo Mathew, and Sid Marchant, Good Flippin’ Burgers currently has 25 outlets across Mumbai, Delhi, Gurgaon, and Noida. The outlets offer delivery services directly through their website and online aggregators such as Zomato and Swiggy. Five-year-old Good Flippin’ Burgers reported strong growth in its scale during FY23 as its operating revenue spiked 3.58X to Rs 32.53. When it comes to the bottom line, the company posted Rs 3.91 crore loss in the fiscal year ending March 2023. It’s yet to disclose its FY24 numbers. The Mumbai-based startup competes with Burger Singh, Whataburger, and Biggies Burger. In September 2022, Biggies Burger secured Rs 5.5 crore in seed round led by Indian Angel Network. Burger Singh also bagged Rs 30 crore in a Series A round led by Negen Capital in July 2022.

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Tanglin leads $7.5 Mn round in Footprints Preschool & Daycare

EntrackrEntrackr · 4m ago
Tanglin leads $7.5 Mn round in Footprints Preschool & Daycare
Medial

Tanglin leads $7.5 Mn round in Footprints Preschool & Daycare Early childhood education and daycare startup Footprints Preschool & Daycare has raised $7.5 million in Series A funding, led by Tanglin Venture Partners. The proceeds will be used to accelerate the launch of new centres, deepen investment in smart surveillance and AI-driven learning systems, and enhance digital engagement with parents, Footprints said in a press release. Footprints Preschool & Daycare is an early childhood education and daycare chain in India. It focuses on holistic child development using the US-based HighScope Curriculum and places a strong emphasis on child safety and parental involvement. Footprints claims to operate numerous centres across 24 cities, serving over 48,000 parents, and provides features such as live CCTV access and a mobile app for parents to stay connected with their children. Footprints aims to reshape early childhood learning by integrating personalized care with technology-driven solutions and efficient operations. It prioritizes child safety through features such as live CCTV access, child-safe infrastructure, and thorough background checks for all staff. “Our focus has always been on creating safe, nurturing, and stimulating environments where every child’s potential is recognized and developed. With the support of Tanglin Venture Partners, we are now positioned to deepen our impact and bring our model to even more families across the country. Our commitment to trust, transparency, and technology-driven care remains the foundation of our growth,” said Raj Singhal, co-founder and CEO of Footprints. Tanglin Venture Partners, a venture capital firm founded by Ravi Venkatesh, a former Tiger Global executive, is gearing up to raise $250 million for its third fund. Its portfolio includes Pocket FM, Moglix, Sugar.fit, Good Flippin' Burgers, abCoffee, Scapia, Plum, Open, Ninjacart, Jupiter, and Rupeek, among others.

abCoffee raises $3.4 Mn in Series A round

EntrackrEntrackr · 1y ago
abCoffee raises $3.4 Mn in Series A round
Medial

Specialty coffee QSR chain abCoffee has raised $3.4 million in its Series A round led by Nexus Venture Partners, with participation from existing investor Tanglin Venture Partners. Earlier to this round, the startup had raised $2 million in its seed round led by Tanglin Venture in September last year. The proceeds will be used to enable abCoffee to ramp up its supply chain and technology stack to bring on-demand coffee beverages at lower prices in quicker time, abCoffee said in a press release. Founded in 2022 by Abhijeet Anand, abCoffee offers a wide variety of freshly brewed coffees at affordable prices and provides all the traditional blends including Americano, Latte, Flat White, Iced Latte, and Irish Cold Coffee. The company boasts a customer loyalty rate of 61%, nearly double the industry average, reflecting its commitment to exceptional service with a turn around time (TAT) of 1.5 minutes. Recently, the brand opened 25 outlets across Mumbai and Delhi within a span of 20 months. The brand is targeting 150 stores by end of 2024. Its competitors include Third Wave Coffee, Blue Tokai, Rage Coffee, Slay Coffee, Sleepy Owl, and Seven Beans Co., among others.

Exclusive: Ziffi Chess raises over $5 Mn led by Tanglin Venture

EntrackrEntrackr · 10d ago
Exclusive: Ziffi Chess raises over $5 Mn led by Tanglin Venture
Medial

Exclusive: Ziffi Chess raises over $5 Mn led by Tanglin Venture Ziffi Chess, a 2 min chess format game, has secured Rs 44.2 crore ($5 million) in its Series A round led by Tanglin Venture Partners along with participation of existing investors India Quotient, DeVC and others. Previously, Ziffi raised around Rs 7.3 crore in Seed round across 2 tranches from India Quotient, DeVC and few other angel investors. However, the company did not disclose both funding rounds (nearly $6 million) in the media. The board at Ziffi Chess issued 3,792 Series A CCPS and an equity share at an issue price of Rs 1,16,583 each to raise the aforementioned amount, as per its regulatory filing with the Registrar of Companies (RoC). New investor Tanglin Venture Partners spearheaded the round with Rs 34.4 crore (around $3.9 million) followed by existing investor India Quotient via IQ Alpha IV who invested Rs 8.6 crore. Remaining amount covered by DevC, Symphysis LSV LLP and Rohan Nayak. According to Entrackr’s estimates, the Gurugram-based company is currently valued at Rs 206 crore or $23.5 million post-allotment. Following the allotment of this round, Tanglin Venture Partners holds a 16.67% stake in the company, while India Quotient owns 15.2%. The two co-founders, Akshat Bansal and Aditya Dubey together retain a 53.54% stake. Founded in 2023 by IIT-B alumni Akshat Bansal and Aditya Dubey, who previously led the quick-commerce pivot at Blinkit, Ziffi Chess brings a fresh take on the game with its unique 2-minute, 6-move format. It allows players to compete in quick matches and win cash rewards. While games can be played for free, the tournament mode features a prize pool of Rs 350. After the government’s blanket ban on real-money online gaming, Ziffi Chess now allows users to play matches free of cost. Earlier, it charged an entry fee starting from Rs 10, according to a review on the App Store. In Ziffi’s first year of operations in FY24, it recorded an operating revenue of Rs 1.5 lakh while its expenses recorded at Rs 87.65 lakh. During the period, the company incurred a loss of Rs 86 lakh.

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