SUMMARY
Biryani by Kilo (BBK) has infused $2 Mn in Get-A-Way and is likely to invest more in the startup
As part of the deal, Get-A-Way will continue to work independently and use BBK’s distribution channels, supply chain and mid-senior management to expand
Get-A-Way claims to have a monthly revenue rate (MRR) of INR 2.5 Cr and aims to reach INR 50 Cr MRR in the coming year
Cloud kitchen startup Biryani by Kilo (BBK) has acquired a majority stake in healthy dessert startup Get-A-Way. BBK has infused $2 Mn in Get-A-Way and is likely to invest more.
As part of the deal, Get-A-Way will continue to work independently and use BBK’s distribution channels, supply chain and mid-senior management to expand in the ecosystem. Additionally, BBK will lead the startup for product innovation.
Founded in 2018 by two siblings and their mothers– Jash, Jimmy and Pashmi Shah, Get-A-Way offers low-calorie, high-protein frozen desserts such as ice creams, popsicles and kulfis.
Further, Get-A-Way is planning to launch vegan cheesecakes to its existing offerings this year.
“When we took a majority stake in Get-A-Way two or three months back, the startup was already doing well. Given the fact that we are a big company and have distribution channels in 45 cities and thus, we enabled the healthy dessert brand in 45 cities. We are targeting Get-A Way to become an INR 100 Cr brand in the next two to three years,” said Vishal Jindal, founder of BBK.
Explaining the composition of low-calorie desserts, Get-A-Way said it uses sweeteners that are derived from natural sources. It is currently planning to add a combination of jaggery and natural sugar substitutes in its low-calorie and low-sugar dessert category.
“At the beginning, we offered five flavours of ice creams and has now offering around 15-16 flavours. We have fruit-based tubs and popsicles and have launched a range of low-calorie ice- cream sandwiches. With this partnership, it gives us access to 45 different cities and cloud kitchens to cater to customers,” said Jash Shah, founder of Get-A-Way.
Sharing its business expansion plans, Jash said that the startup will enter Gulf countries along with BBK early next year (2023). It is currently present in 160+ cloud kitchens and looks to partner with 300 cloud kitchens in the country.
The startup claims to have a monthly revenue rate (MRR) of INR 2.5 Cr and aims to reach INR 50 Cr MRR in the coming year. It further aims to grow its MRR to INR 200 Cr in the next 18-24 months.
Meanwhile, BBK was founded in 2015 by Jindal and Kaushik Roy. The startup sells an assortment of biryanis, kebabs, kormas and desserts. Besides working as a cloud kitchen, it also offers dine-in facilities in 35-40 cities in India, shared by the startup.
BBK claims to run more than 100 outlets in Tier-1 and Tier-2 cities including Delhi-NCR to Bengaluru, Hyderabad, Kolkata to Mumbai, Pune, Jaipur, and Udaipur, among others.
“We already have 100+ outlets and we are looking forward to putting another 150 outlets in a few years in India. Also, we’ll be going international next year. It will most likely start from the Middle East,” Jindal shared on BBK’s expansion plans.
The cloud kitchen startup asserts that it clocks an annualised revenue of INR 250-300 Cr and looks to launch another 40 outlets in the country. It further shared that it is looking to acquire a North Indian cuisine brand, which will be consolidated with Get-A-way.
BBK is also likely to raise a Series C funding round early next year (2023).
In the financial year 2021-22 (FY22), its losses grew by 2.7x to INR 42.6 Cr as compared to INR 15.6 Cr in the previous fiscal year (FY21). Meanwhile, its revenue soared by 2x to INR 135 Cr in FY22 against INR 65.6 Cr in FY21.
In the previous year, it bagged $35 Mn in its Series B round led by Falcon Edge. SBI and IvyCap Ventures also participated in the funding round.
In India’s cloud kitchen space, it competes with the likes of Eat.Fit and Rebel Foods, among others.
According to TechSci Research report, the country’s cloud kitchen market is expected to grow to $2.5 Bn by 2028. The industry will expand at a CAGR of 17.5% during 2024-28.
