Biryani By Kilo (BBK) on Monday said it has raised $35 million in a Series B round led by Falcon Edge Capital, with participation from SBI and existing investor IvyCap Ventures. The Gurgaon-based business will use the funds to expand its biryani brand nationwide, targeting over 200 outlets by the end of 2024. Founder Vishal Jindal said, “We are delighted to close our Series B fundraise and have Alpha Wave | Falcon Edge on board as we look to continue to consolidate our position as India’s leading biryani brand and take BBK worldwide. BBK would also be looking at acquiring other F&B cloud kitchen brands which can be scaled pan India with our expertise in supply chain, technology & marketing. We are grateful to the support of our existing investors IvyCap and the Chand group.”Navroz Udwadia, Co-founder and Partner, Alpha Wave Ventures | Falcon Edge said, “BBK has built a strong brand with a scalable business model and best-in-class unit economics.

Source: Mint November 22, 2021 11:36 UTC