With no dine-in and low online orders, many restaurants in India have already started to assess the unfavourable situation. To keep themselves afloat, these restaurant startups are in need of funding which has now come at least for Delhi-based Biryani By Kilo.
According to the ministry of corporate affairs (MCA) filings accessed by Inc42, Biryani By Kilo has raised INR 6 Cr from a clutch of angel investors in its Series B funding round.
Devanshu Dolat Desai, Anand M Khatau, Debasish Priyadarshi Purohit, Kaushik Shanghvi invested INR 50 Lakh each and got 332 preference shares each. Biryani By Kilo received INR 75 Lakh from Hemal Ashvin Shah and issued him 498 preference shares.
Meanwhile, Nitish Mittersain and Rajandeep Singh invested INR 25 Lakh and 49 Lakh and got 166 and 331 shares respectively. The price per share stood at INR 15K with a nominal price per share of INR 10. Previously, Biryani By Kilo secured $4.3 Mn (INR 30 Cr) in its Series A round of funding led by IvyCap Ventures.
Founded in 2015 by Kaushik Roy, Ritesh Sinha, and Vishal Jindal, Biryani By Kilo was launched as a premium biryani brand. The brand aims to conserve the Khansama style of cooking in which every meal is freshly cooked, instead of cooking in bulk and then selling it. Currently, Biryani By Kilo is distributing meals in Delhi-NCR to stranded daily wagers as part of the Dineout’s Project Thali initiative.
Servify Secures Debt Funding
Meanwhile, Mumbai-based device management platform Servify has raised INR 1.9 Cr in debt funding from Germany-based management consultancy firm Barkawi. According to the regulatory filings, Servify has issued 190K debentures to Barkawi at a price of INR 100 per debenture.
Founded in 2015 by Sreevathsa Prabhakar Servify offers a platform that aims to help users access authentic brand authorised service during in-warranty as well as out of warranty scenarios. The startup is backed by the likes of Mumbai-based Blume Ventures along with Singapore-based BEENEXT.
It also offers services like product diagnosis, warranty and protection plans, queue management, and chatbot support to its clients. Previously, the startup had raised $15 Mn in Series B from Mumbai based venture capital firm Iron Pillar. Besides India, Servify also operates in the US while it has recently set up operations in Europe. In January last year, Servify had acquired gadgets repair startup iService in a cash and stock deal to provide consumers with better after-sales services.