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QSR chain Burger Singh snags pre-Series B funding
VCCircle
·
1y ago
Medial
Burger Singh, an Indian QSR chain, has raised an undisclosed amount in a pre-Series B funding round led by Turner Morrison Ltd at a valuation of $52 million. The company plans to use the funding to expand its network of kiosks in New Delhi and aims to raise an additional $10 million by December 2024. Burger Singh currently has around 150 outlets in 65 cities and secured Rs 30 crore in its Series A round in 2022.
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Actor Rannvijay Singha partially exits Burger Singh with 10X returns
Inc42
·
1y ago
Medial
Actor Rannvijay Singha has exited QSR chain Burger Singh with 10X returns. Singha first invested in the startup in 2015 and participated in its funding round. The burger chain recently raised undisclosed funding in its pre-Series B round. Burger Singh currently has over 150 outlets across India. Singha is an active angel investor and has invested in startups like Rage Coffee, Ultraviolette, Hypd, and Leverage Edu. This announcement adds to the growing trend of investors exiting or partially offloading their stakes in Indian startups.
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Exclusive: Burger Singh scoops up Rs 47 Cr in fresh funding round
Entrackr
·
22d ago
Medial
Exclusive: Burger Singh scoops up Rs 47 Cr in fresh funding round Burger Singh runs a hybrid model with both company-owned and franchise-led outlets, serving a range of burgers, momos, fries, beverages, and desserts. Homegrown quick service restaurant chain Burger Singh has raised Rs 47.15 crore (around $5.5 million) in a fresh round co-led by Negen Value Fund and Nine Rivers Capital. Rhodium Trust also participated alongside 19 other investors. As per regulatory filings accessed via the Registrar of Companies (RoC), the board approved a special resolution to issue 4,994 compulsory cumulative preference shares at an issue price of Rs 94,430 each to raise the funds. Negen Value Fund and Nine Rivers Capital contributed Rs 12 crore each, while Rhodium Trust invested Rs 8.5 crore. Turner Morrison and Thapar Family Trust pitched in with Rs 3.5 crore and Rs 2 crore, respectively. The round also saw participation from individual investors, including Vikas Kapur, Nomita Kapur, Sarfaraz Singh, and Rohit Khattar. The company plans to deploy the capital towards operations, capex, expansion, and general corporate purposes. As per Entrackr’s estimates, Burger Singh has been valued at around Rs 458 crore ($54 million) post-money. Queries sent to Kabir Singh (Founder of Burger Singh) didn't elicit any response till the publication of the story. The chain currently has over 175 outlets across 75 cities and aims to scale its footprint to more than 1,000 outlets by 2026. The company has yet to file its FY25 numbers. During the fiscal year ended March 2024, its revenue from operations grew 34% year-on-year to Rs 77.7 crore, up from Rs 57.8 crore in FY23. Burger Singh reported a net loss of Rs 27.91 crore during FY24. It competes with both global and local chain QSR (quick service restaurants) such as McDonald’s, Burger King, Wendy’s, Jumboking, Wat-a-Burger, Burgernama, and several others.
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Tanglin-backed Good Flippin' Burgers looks to grab Series B cash
VCCircle
·
6m ago
Medial
Good Flippin' Burgers, a Mumbai-based burger chain backed by Tanglin Venture Partners, raised $4 million in Series A funding in June 2023. The company is now preparing to enter the market for its Series B funding round. The chain, founded by Sijo Mathew, Viren DSilva, and Sid Marchant, aims to utilize this upcoming investment to further its growth and expansion in the competitive food and beverage sector.
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Good Flippin’ Burgers raises capital from Tanglin Venture
Entrackr
·
1y ago
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.
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Burger Singh records Rs 78 Cr revenue in FY24, losses surge 6.3X
Entrackr
·
8m ago
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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Lobb Bags $2.9 Mn To Disrupt Digital Freight Brokerage Space
Inc42
·
1y ago
Medial
Bengaluru-based digital freight broker Lobb has secured $2.9 million in an extended Pre-Series A funding round. The company, which boasts being one of the fastest-growing digital freight brokerage platforms in India, works with over 1,200 logistics firms and more than 5,000 fleet owners. This funding news comes shortly after another Indian supply chain startup, Wiz Freight, raised $15 million in a Series B funding round.
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Fintech Niro in talks for pre-Series B funding, eyes valuation bump
VCCircle
·
1y ago
Medial
Bengaluru-based consumer fintech startup Niro is in talks to secure pre-Series B funding at a higher valuation than before. The company, backed by Elevar Equity and GMO Ventures, is an embedded lending platform. It is currently raising funds for its pre-Series B funding round.
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Legends League, LoanKuber, Fabrication Bazar bag early-stage funding
VCCircle
·
11m ago
Medial
LoanKuber, Legends League Cricket, and Fabrication Bazar have all secured early-stage funding from investors. Legends League Cricket received $4.7 million from Dubai-based real estate company Brickwork, valuing the company at $41.7 million. LoanKuber, which operates Janasha Finance, secured $3.5 million in a pre-Series B round to expand its assets under management and strengthen its technological infrastructure. Fabrication Bazar, a manufacturing technology startup, raised $3 million in a pre-Series A round to digitize its supply chain for MSME fabrication vendors in India.
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Flexiloans snags $35 mn in Series C round from three new backers
VCCircle
·
11m ago
Medial
Mumbai-based lending startup Flexiloans has raised INR 290 crore ($34.5 million) in a Series C funding round from investors including global impact investors Accion and Nuveen and Nandan Nilekani's Fundamentum. The funds will be used to scale the company's operations and increase its assets under management (AUM) to INR 3,500-4,000 crore. Flexiloans provides loans to micro, medium, and small enterprises using alternative data sources for risk assessment. The latest funding round comes two years after the company's Series B funding, which raised $30 million.
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Data Sutram, Promethean Energy, BlackCarrot, FarMart bag funding
VCCircle
·
2m ago
Medial
Data Sutram, Promethean Energy, BlackCarrot, and FarMart have secured funding. Data Sutram, a SaaS startup, raised $9 million in a Series A round led by B Capital and Lightspeed India Partners to enhance its AI-driven fraud management and compliance platform. Promethean Energy, specializing in heat pump systems, raised $2 million to expand operations. BlackCarrot, a dinnerware brand, received pre-seed funding, while FarMart secured $5 million to digitize the agricultural supply chain.
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