Spice Lounge, Master Franchise of Buffalo Wild Wings, Secures $1 Million Funding Led by Klub
- ByStartupStory | December 21, 2023
Spice Lounge, the master franchise of Buffalo Wild Wings, a renowned American sports bar franchise, has successfully secured funding of $1 million led by Klub, the company announced in a press release.
According to Spice Lounge, the funds raised will be utilized for store financing and expansion purposes. The company has ambitious plans for expansion, aiming to transition to a quick service restaurant (QSR) model in 2024. By the end of the fiscal year 2025, Spice Lounge projects a revenue of Rs 150 crore.
In addition to its growth plans, Spice Lounge has been actively involved in sports partnerships. The brand served as the official club partner of Sunrisers Hyderabad during the IPL seasons of 2022 and 2023.
As part of its recent developments, Spice Lounge has inaugurated two new outlets, including its latest venture located in South Bangalore at the Falcon City Mall. Looking ahead, the franchisee aims to open 25 outlets across India in 2024, targeting locations in Tamil Nadu, Kerala, Goa, Maharashtra, and Delhi NCR.
Presently, Buffalo Wild Wings operates eight outlets in India, spread across Hyderabad and Bengaluru. Klub, the leading investor in this funding round, specializes in providing digital businesses with rapid and flexible capital infusion without the need to dilute equity. Since its establishment, Klub claims to have funded over 300 brands through more than 600 investment rounds.
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