Sky Gate Hospitality Pvt. Ltd, which runs food startup Biryani By Kilo (BBK), has raised $1 million (Rs 6.8 crore) in another pre-Series A round of funding from a clutch of investors led by Ajay Relan, co-founder and former managing partner of private equity firm CX Partners.
BBK currently has 11 outlets in India – 10 of which are in Delhi-NCR. It aims to launch another nine outlets across metros and big cities by March 2019.
BBK delivers both authentic tastes of Hyderabadi (Kutchi) and Lucknowi (Pukki) Biryani prepared in individual earthen Handis with the freshest ingredients BBK claims to be the only Biryani Chain to make Biryani fresh for every individual order, and deliver it in the Handi in which it was cooked.
In a statement, Gurugram-based Biryani By Kilo said it plans to use the fresh capital to expand its footprint across the country and intends to raise its Series A round by early next year.
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The brand claims to be growing at a rate of 70-80 % year-on-year with a current sales run rate of Rs 24 crore annually. It hopes to close the current financial year with a run rate of more than Rs 40 crore.
BBK was founded by Kaushik Roy in May 2015. Vishal Jindal joined as a co-founder the following year. All their earthenware Handis are crafted by hand at Kumhaara Gram on the outskirts of Delhi. In order to provide sustainable employment to the craftsmen and artisans.
BBK prefer to pre-book the orders or they will deliver in 90 mins, as each Biryani order is cooked fresh for every individual order.