SUMMARY
The burger chain has raised $4 Mn in its Series A round of funding
With the fresh capital, the startup will primarily concentrate on geographical expansion, reinforcing its supply chain
In April 2022, it raised $1 Mn and claimed to have grown 3X in the past one year
Burger chain startup Good Flippin’ Burgers has raised $4 Mn in its Series A round of funding from Tanglin Venture Partners.
With the fresh capital, the startup will primarily concentrate on geographical expansion, reinforcing its supply chain, and further refining its dining and quick service models.
“This cash infusion not only bolsters the company’s financial resources for growth but also solidifies its ambitions as it continues its journey of becoming the most loved burger brand in India,” the startup said.
Ashika Capital was the financial advisor to this round.
In April 2022, it raised $1 Mn and claimed to have grown 3X in the past one year.
Founded by Viren D’silva, Sijo Mathew, and Sid Marchant, Good Flippin’ Burgers was launched in 2019 in Mumbai. The burger brand currently has a total of 23 outlets across Mumbai and Delhi. With 16 stores across Mumbai, the brand has made inroads in Delhi earlier this year with seven new outlets.
“This investment is a significant milestone for us and will empower us to expand our operations, fortify our supply chain, and bring our delicious burgers to an even wider customer base. We will continue to keep delighting our patrons with our product portfolio,” Viren D’silva, cofounder of Good Flippin’ Burgers, said.
India’s food and beverage (F&B) market, which has been growing for years, is poised to reach a size of $156.25 Bn by 2026.
The fundraising comes at a time when there has been slight improvement in overall funding amount raised by Indian startups. The total capital raised by the country’s startups increased 15% month-on-month (MoM) to $1 Bn in May 2023 while Indian startups had raised $900 Mn in the month of April.
As per Inc42 data, the deal count also surged 31% to 80 in May 2023 from 61 in April 2023.
