Burma Burma, a nationwide Burmese dining chain operated by Hunger Pangs Pvt Ltd, has secured ₹25.46 crore (around $3 million) in its latest funding round.
The investment was spearheaded by Negen Capital, which increased its stake from an earlier round. NV Alpha Fund Management and a group of high-net-worth individuals (HNIs) also participated in this funding.
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The newly infused capital will fuel the brand’s ambitious growth plans, which include doubling its outlets over the next 15 months and reaching 24 locations by the end of FY26. Currently, Burma Burma operates 12 restaurants across cities such as Delhi, Gurgaon, Noida, Mumbai, Bengaluru, Hyderabad, Kolkata, and Ahmedabad.
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“Our goal is to hit ₹300 crore in revenue within the next two years while maintaining an EBITDA margin of over 18%. This funding brings us closer to being IPO-ready by 2027,” said Chirag Chhajer, Co-founder of Burma Burma.
The restaurant chain reported impressive financials, earning ₹10.5 crore in revenue for December 2024 with an annualized revenue run rate (ARR) exceeding ₹125 crore. Operating profits for the month reached 28% at the outlet level, alongside a 19% EBITDA margin.
For FY24, Burma Burma posted ₹74 crore in revenue and expects a 50% jump in FY25, projecting earnings of ₹111 crore.
Co-founder Ankit Gupta added, “We’re not just growing; we’re reimagining how Indian diners experience Burmese cuisine. While our roots are firmly planted in Burmese flavors, we’re also exploring exciting new culinary ventures.”
The funding round was managed by investment bankers Sarthak Ahuja and Aditi Randev of Niamh Ventures, alongside BV Raman from Negen Wealth.
