Foodtech startup ‘Biryani by Kilo’ has raised about $1 million in its Pre-series A round of funding from a multiple investors led by Ajay Relan, Founder Chairman at CX Partners and Vinay Mittal from HT Media Strategy. Gurugram-based startup is looking to use this funding in expanding operations in India. Presently, it operates with 11 outlets in India across Delhi-NCR and Mumbai.
Founded in 2015 by Kaushik Roy and Vishal Jindal the startup earlier raised a funding of Rs 2.5 crore at valuation of Rs 14 crores. BBK started with the aim to preserve the Khansama style of cooking as other brands are cooking food in bulk and seeling with repacking of old food.
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The estimated value after March 2017 was Rs 35-40 crore and it is popular for unique style of cooking and delivery in which biryani is made fresh for every individual order and delivery is done in the handi in which it was cooked. BBK offers different types of biryani, besides kebabs, korma, and bread. Also, ‘Aanch’, a chulha or stove, is provided so that customers can warm their biryani according to their need.
On talking about this funding, Kaushik Roy, Founder & CEO – Biryani By Kilo said:
“We aim to make Biryani By Kilo a renowned name in the food service and delivery category from India. With the help of the distinguished team of investors, we will expand both our geographic presence as well as the product range and open outlets in multiple Indian cities,”
Over 70% of orders are received online and BBK has emerged as the fastest delivery chain in NCR with highest Average Order Value of around Rs 1000. BBK is aiming to become a Rs 100 crore-plus firm in the next 2 years and is targeting to become a global player with revenue of more than Rs 500 crore in coming 5-7 years. Achieveing this tough considering that the styartup is focused on biryani only but only time will tell how it performs in future. Other similar brands in the biryani segment include Paradise Food Court,Mani’s Dum Biryani, Biryani Blues, and Ammi’s Biryani. This gives us an idea that food industry is still one of the best in terms of making profits.
