The funding round was led by Negen Capital along with Lets ventures, Mumbai Angels, Old World Hospitality and musician Jasleen Royal
It operates an asset-light franchise model and had launched its first outlet in Gurugram, Haryana in 2014
Presently, Burger Singh has over 80 exclusive food outlets and 12 franchisees across India
Homegrown quick service restaurant chain, Burger Singh has raised INR 30 Cr in its Series A funding round led by Negen Capital along with Lets Ventures, Mumbai Angels, Old World Hospitality and musician Jasleen Royal.
Existing investors including RB Investments, Rukam Capital, KCT Family Office and V.M. SALGAOCAR family office also participated in the round.
Burger Singh plans to use the fresh capital to launch an additional 120 food court outlets by the financial year 2023.
“Kabir and his team have built Burger Singh with excellent unit level economics which are at par, if not better than, some of the MNC burger chains too,” Neil Bahal, founder and CEO at Negen Capital, said.
Founded in 2012 by Kabir Jeet Singh, Burger Singh is a homegrown food chain. It operates an asset-light franchise model and launched its first outlet in Gurugram, Haryana in 2014. It is currently looking to expand its business as well as shore up its existing franchise owners.
“Our ideology has always been to provide sustainable growth to our investors. Our compelling business model has sailed steadfast through two unprecedented global events – the pandemic and inflation. With this round, both current and new investors have once again supported our mantra,” Singh said.
Presently, Burger Singh has over 80 exclusive food outlets and 12 franchisees across India including Delhi NCR, Lucknow, Jaipur, Dehradun, Jammu, Nagpur, Ahmedabad among others. The restaurant chain claims to have recorded a 223% growth in the past year (2020).
In 2019, the food chain secured money from a bunch of investors including RB Investments, Ashish Dhavan and Info Edge’s Sanjeev Bhikchandani, among others.
Prior to this, it also raised $1 Mn from investors such as Ashvin Chadda from Beer Café, Dheeraj Jain from Redcliffe Capital), TV anchor Rannvijay Singh, among others in 2016.
In the QSR space, Burger Singh competes with the likes of Burger King, McDonald’s, Subway, Domino’s, and KFC.
Currently, QSR holds an important part in India’s food chain market. According to the Statista report, the country’s QSR food market, which was pegged at INR 188 Bn in the financial year 2020, is likely to touch over INR 500 Bn mark by 2025.
