Burma Burma Nets INR 25.46 Cr To Expand Its Restaurant Portfolio

Burma Burma Nets INR 25.46 Cr To Expand Its Restaurant Portfolio

SUMMARY

The company plans to use the fresh capital to expand its footprint over the next 15 months, aiming to increase its restaurant portfolio to 24

Company's focus is to take the company to Rs 300 crores in revenue within two financial years

It operates 12 restaurants and delivery kitchens currently in key cities like Delhi NCR, Mumbai, Bengaluru

Mumbai-based restaurant chain Burma Burma has raised INR 25.46 Cr (around $3 Mn) in a fresh funding round led by Negen Capital, along with participation from NV Alpha Fund Management and a host of high net worth individuals (HNIs).

The company plans to use the fresh capital to expand its footprint over the next 15 months, aiming to increase its restaurant portfolio to 24 by the end FY26.

Founded in 2014 by Ankit Gupta and Chirag Chhajer, Burma Burma offers Burmese cuisine. It operates 12 restaurants and delivery kitchens currently in key cities like Delhi NCR, Mumbai, Bengaluru, Hyderabad, Kolkata and Ahmedabad.

“The focus is to take the company to Rs 300 crores in revenue within two financial years while achieving more than 18% EBITDA margin. This funding will be a catalyst in bringing our vision to life as we aim to be IPO-ready by 2027,” said Chhajer.

This funding comes months after Burma Burma Restaurant and Tea Room raised a funding of $2 Mn from several family offices, including existing investor Negen Capital.

In the broader foodtech segment there have been a host of developments in the recent past.

For instance, two days ago Zomato has infused around INR 500 Cr in its quick commerce arm Blinkit. 

Similarly in the same month continuing its spree of launches, Swiggy forayed into  services marketplace segment with the launch of a new app, Pyng Professional. 

Recently brokerage JM Financial reiterated its ‘buy’ rating on the foodtech major Zomato.

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Burma Burma Nets INR 25.46 Cr To Expand Its Restaurant Portfolio-Inc42 Media
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