Ashish Dhavan and Sanjeev Bikhchandani have also made additional investments in this round
The company has reportedly raised $6 Mn till now
The company said it will use the funds for expansion and product development
Burger Singh, a homegrown fast food chain, has raised a fresh funding round led by RB Investments for an undisclosed amount. Besides the Singapore-based venture fund, a few family offices and investors Ashish Dhavan and Sanjeev Bikhchandani have also made additional investments in this round.
The family offices include Salgaocar Family Office of Goa, Raghuvanshi Investments Pvt Ltd (family office of Sona Group MD Sunjay Kapur) and Vikramaditya Mohan Thapar Family Trust.
Kabir Jeet Singh, founder and CEO of Burger Singh reportedly said this was an extended series A round of funding to facilitate the expansion plans of the company. The company had earlier in April announced plans to expand to 6 new outlets in Jaipur. Burger Singh has also stepped in the UK (United Kingdom) with 2 outlets at North London and planning to set up more in the coming years.
While the funding amount was undisclosed, media reports said that the company has reportedly raised about $6 Mn till now. In April the company said it had raised over $4 Mn in two rounds of pre-seed funding and Series A funding from both strategic & angel investors.
Burger Singh has 30 operational outlets in the Delhi-NCR, Jaipur, Nagpur, Dehradoon besides London. While majority of these restaurants are company-owned and operated, some of them are franchise-owned and operated. “We plan to open 2-3 restaurants every month for the next 6-8 months. Our long-term goal is to have 100 operational restaurants by the end of 2022. This will be a mix of company-owned and franchise-owned restaurants,” Singh said. The chain started its first restaurant in November 2014.
The company is also interested in developing drive-thru outlets. In an old interview in Hindu Businessline Singh had said, “We have looked at this concept carefully. In India, predominantly drive-thru outlets are located on highways. But we believe they work better within city limits and suburbs and that is the strategy we will adopt.”
Kabir Jeet Singh returned to India in 2011 and joined the Beer Cafe founding team to understand the retail landscape and quick service restaurant (QSR) format in the Indian market.