VRO Hospitality Raises $10 Mn In Bridge Round To Expand And Accelerate Product Development The round was led by Axis Bank and Nikhil Kamath backed Gruhas
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F&B fine dining chain VRO Hospitality has announced the closure of a $10 million bridge round in funding in a mix of equity and debt. This round was led by Axis Bank and Nikhil Kamath backed Gruhas.
Besides the lead investors, others who participated in the bridge round were NB Ventures, Kunal Shah (Cred) and actress Mouni Roy to mention a few. The company believes that the latest infusion of capital will fortify VRO Hospitality's mission to expand the brand across India and set new benchmarks in the fine dining ecosystem with unparalleled guest experiences. The investment will significantly fuel the expansion of its operations, accelerate product development, and further strengthen its position as a key player in the industry, it said in a statement.
"We are thrilled to have the continued support and trust of our investors as we embark on this transformative journey. This funding round marks a pivotal moment for VRO Hospitality, empowering us to amplify our efforts in redefining the hospitality experience through innovation and unwavering commitment to excellence," said Dawn Thomas, co-founder and CEO, VRO Hospitality.
Commenting on the investment, Abhijeet Pai, Gruhas, commented, "Post-Covid the hospitality sector has witnessed an exponential growth and rightfully so VRO Hospitality has expanded across key markets in India. This successful bridge will help VRO Hospitality accelerate growth, expand its reach, and further solidify its position as a reputable brand & disruptor in the dining industry."
VRO Hospitality owns over 40 upscale lounges and restaurants across Bengaluru, Mumbai, Goa, Kochi, Kolkata, Hyderabad, and Ooty. Some of their brands include Badmaash, Mirage, Plan B, Taki Taki, Los Cavos, Cafe Noir, One Night in Bangkok, Tycoons, Hangover & Nevermind. VRO is on an expansion drive nationally and internationally with brands such as Badmaash, Cafe Noir and Taki Taki.