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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 · 2m 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.

QSR chain Boba Bhai raises $4.3 Mn

EntrackrEntrackr · 9d ago
QSR chain Boba Bhai raises $4.3 Mn
Medial

Quick service restaurant (QSR) chain Boba Bhai has secured $4.3 million (approx. Rs 40 crore) in a funding round from its existing investors 8i Ventures, Titan Capital, Winners Fund, and Global Growth Capital, along with participation from Big Capital and other angel investors. The Bengaluru-based startup had earlier raised Rs 30 crore (around $3.4 million) in its Series A round led by 8i Ventures in January last year and Rs 12.5 crore in a seed funding round led by Titan Capital and Global Growth Capital UK. The proceeds will be deployed to accelerate store expansion, strengthen leadership, and launch new products, Boba Bhai said in a press release. Launched in 2023 by Dhruv Kohli, Boba Bhai specializes in Korean-inspired fusion cuisine and bubble tea. The company operates multiple outlets and cloud kitchens and aims to scale to 300 stores by 2026, offering items like gochujang burgers, K-pop-inspired dishes, and packaged beverages. Boba Bhai offers more than 45 bubble tea flavors, Korean-style burgers, Korean fried chicken, rice/noodle bowls, and fries. It operates with a mix of offline stores and high-volume delivery through Swiggy, Zomato, and Blinkit. The brand said it is growing by about 40–50% month-on-month on quick commerce and intends to be present on all platforms while entering more cities. It aims to cross Rs 100 crore ARR in the next two months. According to Boba Bhai, it reported revenue of Rs 5 crore in FY24, which increased to Rs 30 crore in FY25. The brand claims to currently have 90 outlets across the country, with about 55 outlets offering seating options and the rest acting as delivery hubs.

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.

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