Burger Singh pumps USD 1 mn to spread its wings across the country
Tipping Mr Pink, which runs fusion burger chain Burger Singh, has received a funding of USD 800,000 from investors SUCH AS Beer Cafe founder Rahul Singh, Dheeraj Jain (Redcliffe Capital) and television actor Rannvijay Singh. This is in addition to the USD 200,000 funding raised months back from these investors, taking the total raised amount to USD 1 million (about Rs 6.6 crore) this year.
Apart From aforementioned investors, other investors such as Ashvin Chadda, Capt Salim Sheikh (ex -Sayaji Hotels) and Avtar Monga (COO of IDFC Bank) also invested in the brand.
"We will use the funds to expand our retail presence. Currently, we have eight stores and by September next year, we are planning to increase the number by 26 through franchise model,” informed Kabir Jeet, CEO, Burger Singh.
Unlike its rivals, Gurgaon-based Burger Singh is looking to open smaller outlets with multiple locations, predominantly focused on delivery and takeaway customers.
Elaborating on the funding round, Singh commented that brand’s vision, enthusiasm and prospects have been highly recognised by its investors who have backed us repeatedly both financially and strategically. Now that we have carefully and deliberately built a robust foundation of systems and processes, the aim would be to reach a wider audience geographically.
“We are very impressed by the vision of Kabir and the quality of the management and operations team. We see strong potential in the company and are looking forward to working closely with the team to help ensure the continued success of Burger Singh,” said Dheeraj of Redcliffe Capital.