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House of Biryan raises Rs 32 Cr from MS Dhoni, Bestvantage and others

EntrackrEntrackr · 4m ago
House of Biryan raises Rs 32 Cr from MS Dhoni, Bestvantage and others
Medial

House of Biryan (HoB), a fast-growing food-tech platform, has raised Rs 32 crore (around $3.66 million) in a growth round led by Bestvantage Investments, along with participation from cricket icon MS Dhoni, Mohit Goyal (ex-CVC Capital), Abhineet Singh (Al Siraj Holdings), and senior professionals from SoftBank, Kedara, and APAX. Earlier in July 2024, House of Biryan had raised $2 million in a new round led by a family office from the Middle East called Al Siraj Holdings, Angel Star Ventures. The proceeds will be used to scale its presence to 120–150 outlets in the next three years, targeting revenues between Rs 450–550 crore. Founded by chefs Mohammed Bhol and Mikhail Shahani, HoB aims to make biryani a global food category on par with pizza, sushi, and burgers. The founders duo have over 25 years of Michelin-starred culinary experience. The brand currently operates 22 kitchens across Mumbai, Delhi, and Dubai and has served 2.8 million customers through 4.9 million orders, with 47% repeat usage and an average rating above 4.3. Nearly half of its Zomato traffic comes from direct searches for the brand. The firm claims to have achieved an annual revenue run rate of about Rs 50 crore and is EBITDA-positive in its core markets. It recently launched its first international cloud kitchen in Dubai and is preparing to expand into Australia, Japan, the UK, and North America. HoB competes with Rebel Foods (Faasos, Behrouz Biryani), Biryani By Kilo, and other cloud kitchen brands.

Frex raises Rs 9.5 Cr led by Zeropearl VC and White Venture Capital

EntrackrEntrackr · 18d ago
Frex raises Rs 9.5 Cr led by Zeropearl VC and White Venture Capital
Medial

Peer-to-peer payments platform Frex has raised Rs 9.5 crore in a pre-seed funding round co-led by Zeropearl VC and White Venture Capital, with participation from a group of strategic angels including Abhiraj Singh Bhal, Varun Khaitan and Raghav Chandra of Urban Company, Pradeep Parameswaran, CRED founder Kunal Shah, and Rishabh Goel. The proceeds will be used to expand its on- and off-ramp infrastructure across North America and India, strengthen the compliance and regulatory stack across key corridors, scale engineering and ledger systems, and accelerate go-to-market efforts within NRI and migrant worker communities, Frex said in a press release. Co-founded this year by Aditya Varma, Himanshu Arora and Nikhil Shanker, Frex is a peer-to-peer money transfer platform that offers instant, low-cost cross-border payments. The platform delivers better-than-mid-market rates with near-instant settlement across key corridors and transparent pricing. It combines modern blockchain infrastructure with strict compliance and local banking integrations to make global money movement simple, fast and affordable. Frex aims to make cross-border money movement as seamless and affordable as domestic digital payments. It enables immigrants and global workers to send money home instantly and at ultra-low cost. The Gurugram-based startup addresses bottlenecks such as transfers that take days to process, a lack of pricing transparency, and fees along with forex mark-ups ranging from one to five percent. The platform intends to position itself as a modern alternative to traditional remittance channels, which are often slow, expensive and opaque. Since its launch in November, Frex claims it has seen rising transaction volumes and rapid adoption among immigrant communities, and the company expects to cross $1 million in monthly transfers within the next two to three months. It may directly or indirectly compete with other startups in this space, such as Wise, Remitly and Xoom.

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