Restaurant chain, Burger Singh has raised a fresh funding round led by Singapore-based venture capital firm RB Investments. The amount of funding is undisclosed. As per media reports, the company has reportedly raised about $6 Mn till now. In April the company said it had raised over $4 mn in two rounds of pre-seed funding and Series A funding from both strategic & angel investors.
List of other new investors in this round included Salgaocar Family Office of Goa, Raghuvanshi Investments Pvt Ltd (family office of Sona Group MD Sunjay Kapur) and Vikramaditya Mohan Thapar Family Trust. Additional investments have been made by Investors Ashish Dhavan and Sanjeev Bikhchandani in this round.
As per Kabir Jeet Singh, founder and CEO of Burger Singh, he said, “This was an extended series A round of funding to strengthen product development and facilitate the expansion plans of the company. Launched in November 2014, the company has so far raised about $6 million from strategic and angel investors.” Adding to this, he said, “We plan to open 2-3 restaurants every month for the next 6-8 months. Our long-term goal is to have 100 operational restaurants by the end of 2022. This will be a mix of company-owned and franchise-owned restaurants.”
The company is continuously looking to expand its business in India and outside. Earlier, Burger Singh had announced plans to expand to six new outlets in Jaipur. The company has also stepped in the UK with two outlets at North London and planning to set up more in the coming years.
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