Biggies Burger Raises INR 5.5 Crore In Seed Funding From IAN
The company will use the funds to expand its footprints and scale its franchising network and introduce products that will be redefined as per geography
Biggies Burger, a homegrown burger QSR chain, has raised INR 5.5 crore from the Indian Angel Network (IAN) and others. Lead investors Uday Chatterjee, Jayant Mehrotra, and Ajay Upadhyaya, led the funding round at IAN. The funding round also saw participation from co-investors LetsVenture and a Singapore-based franchise of Biggies Burger participated in the funding round. The company will use the funds to expand its footprints and scale its franchising network and introduce products that will be redefined as per geography.
"It is indeed heartwarming to witness the success we have achieved so far. Ever since our inception in 2011, we have come a long way. We are known for our commitment to quality ingredients and signature recipes. Our strong foothold in the country is fulfilling the demand in tier II, III, and IV cities. However, we want to expand our franchising model, and IAN's investment will help us in this direction," said Biraja Rout, founder, Biggies Burger.
The company currently serves customers across 13 states and 27 cities with more than 117 franchise units, and caters to the demand for international McDonalds and Burger King across consumers in tier II, tier III cities and tier IV cities. It aims to establish over 300 units in India by end of 2024 via a robust franchise network and sustainable financial model, claimed by the company in a statement.
"Young Indian consumers crave diversity in variety and flavors along with nutritional values and healthy options. Biggies Burger is the largest domestic burger brand who has pioneered grilled burgers in the country. They have achieved exceptional growth with their franchised partners and have excellent dine in facility in over 50 stores nationwide. We are delighted to assist them in their journey to become the largest grilled burger brand in India and South Asia," said Uday Chatterjee, lead investor, IAN.
Founded in 2011 by Biraja Rout, C Abilash and Sandeep Satpathy, Biggies Burger is an oldest burger QSR chain. As per reports, the Indian QSR market is projected to touch the $1069 million mark by 2027 and is expected to grow at a CAGR of 9.15 per cent.