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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.

Good Farmer Food Concepts raises $1.5 Mn in pre-Series A led by CreedCap

EntrackrEntrackr · 5d ago
Good Farmer Food Concepts raises $1.5 Mn in pre-Series A led by CreedCap
Medial

Good Farmer Food Concepts raises $1.5 Mn in pre-Series A led by CreedCap Good Farmer Food Concepts, the company that founded artisanal coffee brand Maverick & Farmer Coffee and Square Burgers & Co., has raised $1.5 million in an ongoing pre-Series A round led by CreedCap along with participation from Indian tennis player Rohan Bopanna and former Indian cricket team captain Rahul Dravid, along with Meraki Sport & Entertainment. The proceeds will be utilized to expand its national presence with cafes, invest in R&D and production infrastructure, and bolster and grow the brand’s retail vertical, Good Farmer Food Concepts said in a press release. Good Farmer Food Concepts’s portfolio includes Maverick & Farmer Coffee, a farm-to-cup specialty coffee brand with cafés, retail products, and a growing B2B presence, and Square Burgers & Co., a modern, health-first fast food brand. With an integrated approach spanning farming, product development, retail, and hospitality, it aspires to build scalable Indian brands rooted in craftsmanship, transparency, and long-term value creation. Co-founded in 2024 by Ashish D’abreo, Sreeram Gangadharan, and Tej Thammaiah, Good Farmer Food Concepts aims to focus on quality and innovation and blends experimentation with coffee for retail, community-driven cafés, and a health-forward take on fast food. Homegrown coffee brand Maverick & Farmer is a farm-to-cup company and it conducts experiments on its 140-acre estate in Pollibetta, Coorg, which serves as a laboratory where some of the most inventive brews and bold flavors are created. The brand currently has four cafés in Bangalore, two in Goa, and has a B2B presence, supplying coffee to establishments across the country like International coffee chain Second Cup Coffee, Magnolia Bakery, Courtyard Marriott, Coworks India, Lavonne and Boston Consulting Group amongst others. The brand retails directly to customers through its website. The Bengaluru-based brand’s retail segment focuses on creating various SKUs of specialty coffee roasts and nurturing the home brewer experience by curating a variety of equipment. Its new outlets in the pipeline are in Mumbai, Delhi NCR, Goa, and Bangalore. The company currently operates seven outlets in Bengaluru and Goa and expects to reach ten by the end of the year.

Troo Good raises $9 Mn led by Puro Wellness

EntrackrEntrackr · 1y ago
Troo Good raises $9 Mn led by Puro Wellness
Medial

Troo Good, a millet-based snack brand, has raised $9 million in a new round led by Puro Wellness. Existing investors Oaks Asset Management and V Ocean Investments have also participated. Entrackr had exclusively reported about the funding earlier this month. The company has raised around Rs 132 crore (around $15.7 million) to date including its Rs 55 crore in a Series A led Oaks Management in November 2021. According to the startup data intelligence platform TheKredible, Troo Good will be valued at Rs 322 crore or $38 million post-allotment. The proceeds will be used to support the company’s efforts in expanding infrastructure, enhancing distribution capabilities, and driving product innovation. Founded in 2018 by Raju Bhupati, Troo Good is a Hyderabad-based company that sells millet-based snacks, including chikkis, protein bars, and nutri bars. The company claims to sell over 2 million millet chikkis and other millet snacks every day. While the firm has yet to report FY24 numbers, Troo Good recorded a modest 7% growth in revenue, rising to Rs 52.7 crore in the fiscal year ending March 2023. However, effective cost management enabled Troo Good to achieve profitability during the same period. It competes with Slurrp Farm, which raised $7.2 million in January this year, as reported exclusively by Entrackr.

Exclusive: Snack brand Troo Good raises Rs 72 Cr in new round

EntrackrEntrackr · 1y ago
Exclusive: Snack brand Troo Good raises Rs 72 Cr in new round
Medial

Troo Good, a millet-based snack brand, has raised Rs 72 crore (approximately $8.6 million) from Oaks Asset Management, with participation from Puro Wellness and V Ocean Investments. The board at Troo Good has passed a resolution to issue 10,176 equity shares to raise the aforementioned sum, its regulatory filing accessed by Entrackr from Registrar of Companies shows. Existing investor Oaks Asset Management contributed Rs 37 crore, while V Ocean Investments and Puro Wellness invested Rs 10 crore and Rs 25 crore, respectively. The filing also mentioned that the company will use these funds to meet its working capital requirements. The company has raised around Rs 132 crore to date including its Rs 55 crore in a Series A led Oaks Management in November 2021. According to the startup data intelligence platform TheKredible, Troo Good will be valued at Rs 322 crore or $38 million post-allotment. Following the recent funding, Oaks Asset Management will hold a significant 28.89% of the capital, while Puro Wellness and V Ocean Investments will command stakes of 7.75% and 14.28%, respectively. Founded in 2018 by Raju Bhupati, Troo Good is a Hyderabad-based company that sells millet-based snacks, including chikkis, protein bars, and nutri bars. The company claims to sell over 2 million millet chikkis and other millet snacks every day. While the firm has yet to report FY24 numbers, Troo Good recorded a modest 7% growth in revenue, rising to Rs 52.7 crore in the fiscal year ending March 2023. However, effective cost management enabled Troo Good to achieve profitability during the same period. It competes with Slurrp Farm, which raised $7.2 million in January this year, as reported exclusively by Entrackr.

The Good Glamm Group raises $30 Mn in a new round

EntrackrEntrackr · 1y ago
The Good Glamm Group raises $30 Mn in a new round
Medial

Content-to-commerce company The Good Glamm Group has raised Rs 245.5 crore (approximately $30 million) in a bridge round from the existing investors via right issue. This is the first major infusion in the Delhi-based company after its Series D round in November 2021. The board at Good Glamm has passed the special resolution to allot 1,832 preference shares at an issue price of Rs 13,40,000 each to raise Rs 245.5 crore or $30 million, its regulatory filing sourced from RoC shows. Warburg Pincus led the round with Rs 129 crore while Prosus pumped in Rs 95.73 crore. Bessemer India and Accel Partners also participated with Rs 12.46 crore and Rs 8.31 crore, respectively. Good Glamm will use these proceeds to meet the working capital requirements and activities of the company, as per the business plan approved by the board and mentioned by the firm in the filings. The nine-year-old firm gave an offer to other existing shareholders to participate in the ongoing round, a separate filing from January shows. Good Glamm Group is likely to raise more money in this round. According to the startup data intelligence platform TheKredible, the Good Glamm Group has been valued at around $1.26 billion post this tranche. It was anticipated that the firm’s valuation would go down in the new round but its valuation remained unchanged. Founded by Darpan Sanghvi, and later joined by Priyanka Gill and Naiyya Saggi, the Good Glamm Group is a content-creator commerce conglomerate that comprises a portfolio of innovative and fast-growing direct-to-consumer beauty and personal care brands, powered by its proprietary digital ecosystem of content and creator assets. Before this bridge round, L’Occitane International was the largest external stakeholder in the firm with 15.67% followed by Bessemer India, Warburg Pincus, and Prosus with 14.09%, 8.17%, and 7.60% respectively. See TheKredible for the complete shareholding. While the company is yet to file its financial results for FY23, its top line crossed Rs 250 crore with almost a 5X year-on-year surge in FY22. Its losses also jumped to Rs 273 crore in the same period.

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