Funding Alert
Burma Burma Secures $2 Million in Equity Investment from Family Offices, Including Negen Capital
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ByStartupStory | August 7, 2024
Burma Burma, the renowned vegan restaurant chain specializing in Burmese cuisine, has successfully raised another $2 million in equity investment from several family offices, including Negen Capital. This investment follows the $2 million seed round the company secured in November 2022, which was also led by Negen Capital and others.
Founded by Ankit Gupta and Chirag Chhajer, Burma Burma Restaurant and Tea Room aims to make Burmese cuisine accessible to all. The brand is committed to going beyond just a restaurant, offering patrons a new, wholesome dining experience that engages on various levels.
“Our vision has always been to create an authentic Burmese culinary experience for our customers. With this new round of funding, we are excited to continue expanding and bringing our unique flavors to more people across India,” said Ankit Gupta, co-founder of Burma Burma.
The Mumbai-based company is rapidly spreading its presence to other major metros, including Delhi, Noida, Gurugram, Bengaluru, and Kolkata. Burma Burma currently operates 13 restaurants and delivery kitchens across India, with key locations in Delhi, Gurugram, Noida, Mumbai, Bengaluru, Hyderabad, Kolkata, and Ahmedabad.
Over the past year, Burma Burma has experienced significant growth, doubling its footprint and annual recurring revenue (ARR) from Rs 46 crores in FY23 to over Rs 100 crores in FY24.
The company has also reported strong financial performance, clocking an EBITDA of over 13% in July and aiming to hit a monthly EBITDA of over 15% for FY25.
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