Biryani By Kilo (BBK), a delivery-led Biryani company, announced on Thursday that it has raised $5 million in Series A round of funding from IvyCap Ventures.
This infusion of funds will be used to expand BBK’s presence across western and northern India and improving the platform and product.
The company is focussed on Nizami and Mughlai cuisines. It claims to be the only company to deliver individually-cooked fresh, handi-cooked Biryani for every order.
Also, it serves Biryani in three styles — Hyderabadi, Lucknowi and Kolkatan. Over the last three years, BBK has expanded to 20 outlets operating across Delhi-NCR, Mumbai, Chandigarh, Mohali and Ludhiana.
BBK primarily operates under the cloud-kitchen model with few dine-ins at select locations based on latent demand.
All items are cooked-on-order to ensure freshness, quality, hygiene and minimal wastage and served in hand-made, natural handi to give an authentic experience and impart its own flavours.
The founding team of Kaushik Roy, Vishal Jindal and Ritesh Sinha has had expertise across marquee hospitality organisations.
Biryani as a segment has huge potential and is already ranked as the most ordered food product by leading food delivery aggregators in India. Its market is estimated to be around ₹1,500 crore in the organised sector and ₹15,000 crore in the unorganised sector, Co-founder and CEO Roy said, quoting industry reports.
Jindal, Co-founder and Director, said BBK plans to become a leading premium Biryani and Kabab chain in India and abroad in the next four-five years.
Ashish Wadhwani, Managing Partner, IvyCap Ventures, and Prayag Mohanty, Principal, will shortly join the BBK board as Director and Observer, respectively, on behalf of the investors.
Source: The Hindu