Burger Singh is looking to raise around Rs 50 crore in Series B round of funding by 2019. The homegrown quick-service restaurant chain will raise the funds to expand its outlet network from the existing 25 to 100 by 2020 end.
The company's current investors along with new investors may participate in this round.
Kabir Jeet Singh, Founder and CEO, Burger Singh, said, "We will start looking out for Series B round of funding in a tune of Rs 50 crore before the end of this financial year. Once we start the talks, it may take us up to six months to close the round. The move will help us to become a national player."
The first outlet of Burger Singh was opened in November 2014. The firm has raised more than $1 million in pre-series A funding from both strategic and angel investors such as Ashvin Chadda, Rahul Singh, Dheeraj Jain, Ranvijay Singh, and Avtar Moga.
"I am very happy with my current investor set. But I would like to get a little diversity in the group. Somebody who brings in something more than just money would be ideal," Singh further said.
Recently, the QSR chain has launched its two restaurants in Central London. It aims to reach 40 outlets by the end of this year and 100 outlets by 2020.
Domino’s Pizza chain, operated by Jubilant FoodWorks Ltd (JFL) in India, has started launching quick-service restaurants (QSR). These QSRs are on the lines of the ‘Experience Of The Future’ (EOTF) stores operated by Hardcastle Restaurants, the master franchisee for McDonald’s/McCafe QSRs in West and South India.
With this move, Domino’s is planning to enhance the dine-in experience and cater to the changing needs/preferences of customers patronising its QSRs.
Hari Bhartia, Co-Chairman, Jubilant FoodWorks Ltd (JFL), said, “The new store design being introduced in the June quarter is receiving tremendous response from customers.”
“We have begun to roll out this new Domino’s store design in the first quarter of fiscal 2020. And nine out of our 26 new Domino’s stores being added in the June 2019 quarter are based on this contemporary design. We have also introduced digital kiosks to improve customer experience in ordering,” he added.
Jubilant FoodWorks is making considerable investments in strengthening its own digital assets, delivery experience and improving dine-in revenue stream, building the brand and innovation.
Pratik Pota, CEO of JFL, said, “Apart from having significantly improved interiors and better ambience, the one additional investment we are making is in putting in technology in the store, whether it is a self-ordering kiosk or whether it is digital screens. There is a small delta cost (of 10% over the earlier store set up cost) which comes on account of these tech investments in store.”
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