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Burger Singh raises Rs 82 Cr in Series B round at Rs 520 Cr valuation

EntrackrEntrackr · 1d ago
Burger Singh raises Rs 82 Cr in Series B round at Rs 520 Cr valuation
Medial

Burger Singh raises Rs 82 Cr in Series B round at Rs 520 Cr valuation Homegrown burger chain Burger Singh has announced the closure of its Series B funding round at Rs 82 crore (nearly $9 million) at a valuation of Rs 520 crore ($56 million). The round was led by Artal Asia Pte Ltd and saw participation from a mix of new and existing investors such as Negen Undiscovered Value Fund, Aurum Rising India Fund, and others. Entrackr had exclusively reported about this round back in July last year. The company will use the fresh capital to strengthen the systems, processes, and infrastructure required to build India’s most scalable franchise-first restaurant growth platform, Burger Singh said in a press release. Burger Singh runs a hybrid model with both company-owned and franchise-led outlets, serving a range of burgers, momos, fries, beverages, and desserts. The chain currently has over 200 outlets across 75 cities and aims to scale its footprint to more than 1,000 outlets by 2026. “India has no shortage of entrepreneurs. What it lacks is enough high-quality operating platforms that allow those entrepreneurs to succeed in the restaurant business at scale. That is the gap we are solving,” said Kabir Jeet Singh, Founder and CEO of Burger Singh. The company has reported 50% year-on-year growth to Rs 117 crore in FY25 from Rs 78 crore in FY24. Meanwhile, the net losses of the firm shrank by 86% to Rs 3.86 crore in FY25. It competes with both global and local QSR chains (quick service restaurants) such as McDonald’s, Burger King, Wendy’s, Jumboking, Wat-a-Burger, Burgernama, and several others.

Burger Singh records Rs 78 Cr revenue in FY24, losses surge 6.3X

EntrackrEntrackr · 1y ago
Burger Singh records Rs 78 Cr revenue in FY24, losses surge 6.3X
Medial

Burger Singh, an Indian quick-service restaurant chain, faced a significant financial downturn in the fiscal year ending March 2024. The company's losses surged over six-fold during this period, despite a 34% year-on-year growth in operating revenue. Burger Singh’s revenue from operations grew to Rs 77.7 crore in FY24 from Rs 57.8 crore in FY23, its annual financial statements sourced from the Registrar of Companies show. The 12-year-old company operates as a quick-service restaurant, offering a diverse menu of burgers, sides, desserts, and beverages through a combination of self-owned and franchise outlets. Burger Singh derives its revenue from three sources: sales from its own stores, franchise goods sales, and franchise services. In FY24, sales of food and beverages from its own stores contributed 48% of the total operating revenue, which grew by 60% to Rs 37.66 crore. Revenue from the sale of franchises and the sale of goods to franchise stores stood at Rs 10.81 crore and Rs 28.6 crore, respectively. For the food and beverages startup, the cost of procurement became the largest cost center forming 43% of its overall cost. In the line of scale, this cost grew 31.3% to Rs 39.2 crore in FY24 from Rs 29.9 crore in FY23. Burger Singh has witnessed a 54% surge in its employee benefits to Rs 18.37 crore in FY24. The commission, traveling, legal, and advertising are other overheads that pushed the total expenditure up by 43.7% to Rs 91.1 crore in FY24 from Rs 63.4 crore in FY23. The 43.7% increase in the total cost outpaced the revenue growth, resulting in losses which spiked 6.3X to Rs 27.9 crore in FY24. Its ROCE and EBITDA margin stood at -94.76% and -30.94%, respectively. On a unit level, Burger Singh spent Rs 1.17 to earn a rupee in FY24. Notably, Burger Singh’s cash and bank balances stood at Rs 19.51 crore with a total current assets standing at Rs 31.3 crore in FY24. In December 2023, Burger Singh raised its pre Series A round from Turner Morrison and existing backers at a valuation of $52 million. The company has raised over $12 million to date and operates more than 175 outlets spanning 75 cities.

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