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QSR chain 99 Pancakes raises Rs 20 Cr

EntrackrEntrackr · 1y ago
QSR chain 99 Pancakes raises Rs 20 Cr
Medial

Quick service restaurant (QSR) chain 99 Pancakes has secured Rs 20 crore ($2.4 million) in a Series A funding round from a family office. In March 2022, it had raised Rs 6.5 crore in a round of funding through a group of angel investors. The latest funds will be used to make its presence across India, 99 Pancakes said in a press release. Entrackr has reached out to 99 Pancakes to know the names of the investors. Launched in 2017 by Vikesh Shah, 99 Pancakes specializes in a variety of pancakes that cater to all tastes and preferences. The brand sells pancakes, waffles, french crepes, macaroons, croissants, pizzas, and shakes. According to the Mumbai-based company, it is set to add 50 new outlets by the end of the current year and 200 outlets by the end of December 2025. The company aims to expand geographic coverage to 50 cities across India and will expand its presence by opening company-owned outlets and associating with master franchisees in different regions. 99 Pancakes says that it has opened 4 new outlets in the current month and expansion efforts are centered on the state of Gujarat, with new locations slated for Ahmedabad, Vadodara, Anand, Surat, and Vapi.

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Bubble tea brand Boba Bhai raises Rs 12.5 Cr in seed round

EntrackrEntrackr · 1y ago
Bubble tea brand Boba Bhai raises Rs 12.5 Cr in seed round
Medial

Boba Bhai,a quick-service restaurant (QSR) brand focused on bubble tea and other food items, has raised Rs 12.5 crore in its seed round led by Titan Capital and Global Growth Capital UK. The round also saw participation from Arjun Vaidya, Marsshot VC (RazorPay founders fund), DEVC, Warm up Ventures, Asit Oberoi, 1947 Rise Fund by Shiva Singh Sangwan, Peercheque, Varun Alagh, Mandeep Sodhi, Prabhraj (Simba Beer), FinFirst, Neha Patil, Abhinav Sinha from Oyo and other high profile angel investors. The proceeds will be used across hiring, product line expansion and presence across India, the company said in a press release. This is the first institutional fundraising round since its inception in October 2023. In just six months, the startup claims to have processed over 50,000 monthly orders while expanding its footprint to 25 outlets across seven cities – Delhi, Gurugram, Udaipur, Bengaluru, Mumbai, Hyderabad, and Chennai with an average order volume of Rs 400. Founded by Dhruv Kohli, Boba Bhai is building bubble tea and K-Pop burgers QSR chain to expand its presence globally. The Bengaluru-based firm makes an annual revenue run rate (ARR) of Rs 24 crore and a monthly revenue run rate (MRR) of Rs 2 crore. By December 2024, it aims to reach Rs 60-65 crore. Earlier this month, Kolkata-based QSR chain Wow! Momo secured Rs 70 crore ($8.3 million) in funding from Z3 Partners.

Wow! Momo raises Rs 85 Cr in debt from Stride Ventures

EntrackrEntrackr · 6m ago
Wow! Momo raises Rs 85 Cr in debt from Stride Ventures
Medial

Wow! Momo raises Rs 85 Cr in debt from Stride Ventures Quick-service restaurant chain Wow! Momo Foods has raised Rs 85 crore (around $10 million) in debt funding from Stride Ventures. The proceeds will be used to refinance existing loans and drive expansion across its QSR and FMCG verticals. Launched in 2008 by Sagar Daryani and Binod Homagai, Wow! Momo operates over 700 outlets in 70 cities, and owns brands such as Wow! Momo, Wow! China, Wow! Chicken, and Wow! Kulfi. “This support from Stride Ventures will help us scale new heights and introduce more formats to reach wider audiences,” said Sagar Daryani, Co-founder & CEO of Wow! Momo. The company plans to scale its FMCG business to Rs 100 crore, grow its HORECA division, and expand to 1,500 stores across 100 cities in the next three years. As per TheKredible, Wow! Momo’s revenue from operations grew to Rs 470 crore in FY24 from Rs 413 crore in FY23. It maintained steady losses at Rs 114 crore in FY24.

Shilpa Shetty-backed WickedGud raises Rs 20 Cr

EntrackrEntrackr · 13d ago
Shilpa Shetty-backed WickedGud raises Rs 20 Cr
Medial

Shilpa Shetty-backed WickedGud raises Rs 20 Cr Shilpa Shetty-backed WickedGud, a direct-to-consumer (D2C) food products brand, has raised Rs 20 crore in its latest funding round from existing investors, including Orios Venture Partners, Asiana Fund, Shilpa Shetty, and others. The round also saw participation from Shajikumar Devakar, Ajay Mehta, Sonika Ravula, and Rahul Colaco. The Mumbai-based startup had previously raised Rs 20 crore from the same investors in December last year and $250,000 in June 2023. The proceeds will be deployed to expand its presence across modern trade, general trade, and digital platforms, strengthen supply chain and backend capabilities, and accelerate innovation in high-velocity categories such as cup noodles and Korean-style spicy noodles, WickedGud said in a press release. Co-founded in 2021 by Bhuman Dani, WickedGud is a D2C startup focused on “unjunking” India, one kitchen at a time, with a range of healthy yet indulgent food products. Its offerings are made using wholesome ingredients and manufactured using innovative steaming and convection air drying (SCAD) technology. According to WickedGud, it operates in the large and highly competitive instant noodles and pasta segment, where taste, accessibility, and price sensitivity are key drivers of scale. The company’s focus on improving everyday staples through a better-for-you lens has helped it appeal to a broad consumer base without positioning itself as a niche or premium-only brand. The brand is currently available across leading online and quick-commerce platforms, including Amazon, Blinkit, Instamart, Zepto, BigBasket, and Flipkart. In addition to its digital presence, WickedGud has an offline footprint across more than 5,000 retail outlets nationwide, including over 1,500 Reliance Smart Bazaar stores and 50 DMart stores. Recently, the company launched a Rs 20 value pack of Masala Noodles for general trade, aimed at improving affordability and driving higher volumes in price-sensitive markets. It is also expanding its Korean-style noodles portfolio with new flavours, including Korean Fiery 2x Spicy, Korean Chilli Cheese, and Korean Chilli Chicken.

Exclusive: Biryani Blues losses down by over 30% in 11 months of FY25

EntrackrEntrackr · 4m ago
Exclusive: Biryani Blues losses down by over 30% in 11 months of FY25
Medial

Exclusive: Biryani Blues losses down by over 30% in 11 months of FY25 Quick service restaurant (QSR) chain Biryani Blues reported Rs 76.23 crore in revenue during the 11-month period (Apr–Feb FY25), while narrowing losses by over 30%. Quick service restaurant (QSR) chain Biryani Blues claimed to have hit the Rs 85 crore revenue threshold in the fiscal year ending March 2025. The company appears to be on track, as it reported Rs 76.23 crore in revenue during the 11-month period (Apr–Feb FY25). On a year-on-year basis, the company barely managed double-digit growth in FY25 (11 M FY25), having posted Rs 76.15 crore in revenue in FY24. The FY25 figures are provisional financial statements sourced from filings. Biryani Blues is a QSR chain specializing in biryani. It also offers starters, desserts, and beverages, served through online delivery, dine-in, and take-away outlets. While a detailed revenue breakup has not been disclosed, most of its earnings are likely driven by the sale of these items. The Gurugram-based company also earned Rs 60 lacs of non-operating income, which took the company's total revenue to Rs 76.83 crore. For the biryani brand, the cost of procurement of materials accounted for 27.35% of total expenses at Rs 22.47 crore, which remained flat compared to the previous fiscal. Employee benefit expenses also stayed nearly unchanged at Rs 14.91 crore during the last fiscal year (Apr–Feb FY25). Importantly, the firm’s finance cost surged over 60% to Rs 6 crore. While a detailed expense breakdown was not provided, total expenses declined marginally by 3% to Rs 82.17 crore. The QSR brand’s controlled cost mechanism helped it reduce the losses by over 30% to Rs 5.34 crore in 11M FY25, compared to Rs 8.14 crore in the previous fiscal year. The company’s EBITDA declined 25% but remained positive at Rs 7.25 crore during the 11 months period. These figures are provisional, as the March numbers are yet to be accounted for and may lead to a slight increase. The Rebel Foods-backed company spent Rs 1.08 to earn a rupee in the above-stated period. Its current assets were recorded at Rs 8.57 crore till Feb 25, including cash and bank balances of Rs 1.09 crore. The company has raised over Rs 100 crore ($13.5 million) till date including $5 million raised in May 2025 led by Yugadi Capital, as per TheKredible.

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