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

EntrackrEntrackr · 2d 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.

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MS Dhoni-backed Garuda Aerospace raises Rs 100 Cr in Series B round

EntrackrEntrackr · 4m ago
MS Dhoni-backed Garuda Aerospace raises Rs 100 Cr in Series B round
Medial

MS Dhoni-backed Garuda Aerospace raises Rs 100 Cr in Series B round Drone technology startup Garuda Aerospace has raised Rs 100 crore ($11.6 million) in its Series B funding round led by Venture Catalysts (VCAT) at a post-money valuation of $250 million. Previously, the firm had raised $22 million in its Series A round led by Venture Capital firm SphitiCap in February 2023. The fresh proceeds will be used to scale up drone manufacturing, enhance production capabilities, and complete an R&D and testing center focused on defense drone technology. Founded in 2015 by Agnishwar Jayaprakash, Garuda has grown to a team of over 200 members and manufactures 30 drone types while offering 50 services. Garuda currently holds over 20 patents and operates a fleet of over 400 drones with 500 trained pilots across 84 cities. It serves clients including government agencies and major corporations such as TATA, Reliance, and Adani. It has also partnered with global companies like Lockheed Martin and Elbit Systems. As per TheKredible, Garuda Aerospace’s revenue from operations grew by 2.3X to Rs 110 crore in FY24 from Rs 47 crore in FY23. Its net profit reached Rs 16 crore in FY24, a 2.7X increase from Rs 6 crore in the previous year. Garuda competes with the likes of ideaForge, Aarav Unmanned Systems, Throttle Aerospace Systems, General Aeronautics, and Omnipresent Robot Tech in the drone manufacturing and drone-as-a-service (DaaS) segment across defense, agriculture, and industrial applications.

Garuda Aerospace posts Rs 17.5 Cr profit in FY25, revenue at Rs 118 Cr

EntrackrEntrackr · 2d ago
Garuda Aerospace posts Rs 17.5 Cr profit in FY25, revenue at Rs 118 Cr
Medial

Garuda Aerospace posts Rs 17.5 Cr profit in FY25, revenue at Rs 118 Cr Drone technology startup Garuda Aerospace reported a modest growth in the last financial year ending March 31, 2025. The Bengaluru-based firm maintained profitability, supported by steady revenue growth and cost discipline. Garuda’s revenue from operations increased 7.3% to Rs 118 crore in FY25 from Rs 110 crore in FY24, as per its unaudited financial statements filed with the Registrar of Companies (RoC). Garuda Aerospace designs, manufactures and customizes Unmanned Aerial Vehicle (UAVs or drones) for various use cases such as deliveries, disaster management and agriculture. The company made additional Rs 7 crore from other income, which increased its total income to Rs 125 crore in FY25, from Rs 111 crore in FY24. Looking at the expenses, the cost of materials, which formed the largest expense, rose 14% to Rs 56 crore in FY25 from Rs 49 crore a year ago. Employee benefit expenses declined 12% to Rs 9.23 crore, while finance costs halved to Rs 1 crore during the same period. Depreciation, however, increased to Rs 3 crore in FY25 from Rs 2 crore in FY24. Overall, Garuda’s total expenses grew 13% to Rs 100.5 crore in FY25 as against Rs 89 crore in FY24. Despite higher spending, the company managed to expand its bottom line, with profit after tax (PAT) rising 9.4% to Rs 17.5 crore in FY25, from Rs 16 crore in FY24. Its ROCE and EBITDA margin stood at 14.37% and 22.4% respectively. On a unit level, Garuda spent Rs 0.85 to earn a rupee of revenue during the fiscal year. The company recorded current assets worth Rs 179 crore. According to startup data intelligence platform TheKredible, Garuda Aerospace has raised approximately $44 million to date from investors such as Nagarajan Seyyadurai, Ocgrow Ventures, cricketer MS Dhoni and others. Garuda operates a fleet of 400 drones and 500 pilots across 84 cities. The company recently raised funds from Narotam Sekhsaria Family Office to scale up manufacturing capacity from the current 8,000 drones annually to between 12,000 and 15,000 units. It will also expand its export presence to 50 countries by the year-end.

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