A delivery food startup, BiryaniByKilo, has raised ₹30 crore in a Series A round from venture capital firm IvyCap Ventures.
The company, as the name suggests is focused on Nizami & Mughlai cuisine and they specialise in preparing different traditional dum style fresh biryani and other items such as kebabs, korma, bread, and desserts. The basic operation is based on deliveries and there also a few options to dine at the restaurant in select areas.
The brand has expanded across India in places like Delhi NCR, Mumbai, Chandigarh, Mohali and Ludhiana only in the last 3 years.
The company was founded in 2015 by Kaushik Roy, Vishal Jindal and Ritesh Sinha and they will use the increased funds for expanding its presence across West & North India. They will also work on improving their platform, product, technology and efficiency.
“Biryani as a segment has huge potential and is already ranked as the most ordered food products by leading food delivery aggregators in India. Biryani market in India is estimated to be approx. ₹1,500 crores in the organized sector and ₹15,000 crores in the unorganized sector as per Industry reports,” the statement said.
Vikram Gupta, founder & managing partner at IvyCap Ventures said, “There is a tremendous opportunity for the emergence of pan-India Biryani-focused chains, along with room for expansion into international markets.” “The founding team comes with extensive experience and demonstrable track-record of scaling-up F&B businesses,” he added.