The homegrown quick service restaurant(QSR) chain, Burger Singh, raised INR 30 in its Series A funding round led by Negen Capital along with Lets Ventures, Mumbai Angels, Old World Hospitality and musician Jasleen Royal. The SALGAOCAR family office also participated in the round.
Existing investors including RB Investments, Rukam Capital, KCT Family Office and V.M. Burger Singh plans to use the fresh capital to open 120 more food court outlets by the financial year 2023.
Burger Singh, founded in 2012 by Kabir Jeet Singh, is a domestic food chain. It operates an asset-based franchise model and in 2014 launched its first branch in Gurugram, Haryana. They are currently looking to expand their business as well as support their existing franchise owners.
Currently, Burger Singh has more than 80 exclusive food outlets and 12 franchisees across India, including Delhi NCR, Lucknow, Jaipur, Dehradun, Jammu, Nagpur, Ahmedabad and more. The restaurant chain claims to have seen 223% growth in the past year (2020).
In 2019, the grocery chain secured money from a slew of investors including RB Investments, Ashish Dhavan and Sanjeev Bhikchandani of Info Edge, among others.
Earlier also in 2016, it raised $1 million from investors like Ashvin Chadda of Beer Café, Dheeraj Jain of Redcliffe Capital), and TV anchor Rannvijay Singh. In the QSR space, Burger Singh competes with Burger King, McDonald’s, Subway, Domino’s and KFC.
Kabir Jeet Singh, Founder of Burger Singh, said, “Our ideology has always been to ensure sustainable growth for our investors. Our compelling business model has weathered two unprecedented global events – the pandemic and inflation. In this round, existing and new investors have again endorsed our mantra.”
Neil Bahal, founder and CEO of Negen Capital, said, “Kabir and his team have built Burger Singh with excellent unit-level economics that is at par, if not better, than some MNC burger chains.”
Currently, QSR occupies an important role in the Indian food chain market. The QSR food market in the country pegged at INR 188 billion in FY2020, is likely to cross the INR 500 billion mark by 2025, according to a Statistical report.
