Total amount raised
$54 Millions
Latest funding date
11/1/2024
Location
Biryani By Kilo has successfully raised significant funding through multiple rounds, attracting a diverse group of investors. The company specializes in delivering a variety of biryanis and kebabs, catering to a growing customer base.
Keep reading to explore the intricacies of Biryani By Kilo's fundraising journey and the investors backing this innovative food service platform.
What Is Biryani By Kilo?
Biryani By Kilo, founded in 2015 in Noida, Uttar Pradesh, India, specializes in delivering freshly cooked biryanis and kebabs. The company uses high-quality ingredients and traditional dum cooking methods to prepare its dishes.
Founded by Kaushik Roy, Ritesh Sinha, and Vishal Jindal, Biryani By Kilo has grown significantly since its inception. The company offers a variety of biryanis, kebabs, kormas, and desserts, catering to a diverse customer base.
With a workforce of 501-1000 employees, Biryani By Kilo continues to expand its reach, providing options for delivery, takeaway, and dine-in services.
How Much Funding Has Biryani By Kilo Raised?
- Angel Round
- Amount Raised: ₹25M
- Date: February 2017
- Lead Investors: Anmol Jamwal, Chandigarh Angels Network
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To kickstart operations and establish a market presence.
- Seed Round
- Amount Raised: $609.8K
- Date: October 2017
- Lead Investors: Startup Equity Partners
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To expand initial operations and increase market reach.
- Seed Round
- Amount Raised: $1M
- Date: July 2018
- Lead Investors: Ajay Relan, Vinay Mittal
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To further scale operations and enhance product offerings.
- Seed Round
- Amount Raised: $977.8K
- Date: November 2018
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To support ongoing growth and operational improvements.
- Series A
- Amount Raised: ₹300M
- Date: June 2019
- Lead Investors: IvyCap Ventures
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To expand into new markets and increase production capacity.
- Series B
- Amount Raised: ₹60M
- Date: April 2020
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To enhance technological infrastructure and improve delivery logistics.
- Series B
- Amount Raised: $35M
- Date: November 2021
- Lead Investors: Alpha Wave Global
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To accelerate growth and expand the menu offerings.
- Debt Financing
- Amount Raised: Not publicly disclosed
- Date: May 2023
- Lead Investors: Trifecta Capital Advisors
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To manage cash flow and support operational expenses.
- Series C
- Amount Raised: ₹720M
- Date: December 2023
- Lead Investors: Alpha Wave Ventures
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To expand into international markets and enhance brand presence.
- Private Equity Round
- Amount Raised: ₹165M
- Date: November 2024
- Lead Investors: Pulsar Capital
- Valuation at Round: $100M
- Motivation Behind the Round: To support the company's growth and reduce operational losses.
Total Amount Raised: $52 million. Current Valuation: $100 million.
Key Investors
- Pulsar Capital
- Details: Pulsar Capital is a Dubai-based private equity firm led by Vish Nair, a former partner at TPG. The firm has a strong focus on strategic investments in emerging markets.
- Investment Focus Areas: Healthcare, e-commerce, technology.
- Notable Investments: TruDoc, Assidus.
- Alpha Wave Ventures
- Details: Alpha Wave Ventures is a global investment firm known for backing high-growth companies. They have a diverse portfolio spanning multiple sectors.
- Investment Focus Areas: Technology, healthcare, consumer goods.
- Notable Investments: Not publicly disclosed.
- IvyCap Ventures
- Details: IvyCap Ventures is an India-based venture capital firm that focuses on nurturing innovative startups. They leverage their extensive network of industry experts to support portfolio companies.
- Investment Focus Areas: Technology, healthcare, education.
- Notable Investments: Purplle, Clovia, Elucidata.
- Trifecta Capital Advisors
- Details: Trifecta Capital Advisors is a leading venture debt firm in India. They provide structured debt solutions to high-growth companies.
- Investment Focus Areas: Technology, consumer services, financial services.
- Notable Investments: BigBasket, UrbanClap, CarDekho.
- Startup Equity Partners
- Details: Startup Equity Partners is a venture capital firm that invests in early-stage startups. They focus on companies with strong growth potential and innovative business models.
- Investment Focus Areas: Technology, consumer goods, healthcare.
- Notable Investments: Not publicly disclosed.
What's Next for Biryani By Kilo?
With the cloud kitchen market in India projected to reach $3 billion by FY31, Biryani By Kilo is poised to capitalize on this growth. The company plans to expand its delivery services across more cities, leveraging the popularity of foodtech platforms like Zomato and Swiggy. This expansion presents a significant opportunity to capture a larger market share and enhance its brand presence.
Given the recent $2 million funding from Pulsar Capital, Biryani By Kilo is well-positioned for future fundraising opportunities. The ongoing funding round suggests potential for additional investments from venture capital firms and private equity investors. This influx of capital will be crucial for scaling operations and menu innovation.
However, the path ahead is not without challenges. The company faces stiff competition from established brands like Rebel Foods' Behrouz Biryani and Biryani Blues. Additionally, managing and reducing net losses, which surged 2.7 times in FY22, will be critical. Maintaining quality and consistency across its 100+ outlets will also be essential as the company continues to grow.
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