Investec advises Biryani by Kilo on its USD 35 million fundraise from Alphawave and IvyCap
About the deal
Investec acted as the Exclusive financial advisor to SkyGate Hospitality Private Limited (Biryani By Kilo), India’s leading delivery first, cloud kitchen enabled Biryani brand, on its USD 35 million Series B Fundraise led by Alphawave and participation from existing investors.
Investec’s strong understanding of the food services industry, helped pre-empt and negotiate a favourable deal for BBK, leveraging Investec’s extensive investor network to raise funds and position the company appropriately throughout the process. Investec played a crucial role in creating a foundation for a long-term partnership by balancing the interests of the founders and incoming investors and executing the deal successfully.
About Biryani By Kilo
Founded in 2015 in Gurgaon, BBK is India’s leading delivery first, cloud kitchen enabled Biryani brand. Present across 25 cities with over 60 outlets and USD 20 million in annual revenues the delivery first chain delivers 100 freshly cooked Biryanis, Kebabs, Kormas and Desserts to 2m+ customers. BBK uses the best ingredients, 2 year naturally aged premium Basmati rice, spices handpicked from Kerala, and stringently selected meats vegetables for its Biryanis Kebabs. BBK uses world class technologies, processes systems to give the best quality products with standardization hygiene convenience to its customers. The company raised Series A funds from IvyCap Ventures in 2019.
“We are delighted to close our Series B fundraise and have Falcon Edge on board as we look to continue to consolidate our position as India’s leading Biryani Brand & 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.”
– Founder, Vishal Jindal
“Biryani is the most popular dish in the country, but there is a dearth of quality brands. Right from the start, we have been clear in our vision, to provide 100% fresh Handi Biryani to our customers made with authentic recipes at affordable prices. This capital will allow us to accelerate our journey, while retaining our focus on quality, freshness and customer delight”
– Founder, Kaushik Roy
“BBK is at a very exciting stage of its journey. We are excited about the opportunity in this space where BBK has created a unique positioning. The new round of Funding will help BBK achieve its true potential.”
– Vikram Gupta, Founder IvyCap Ventures
“BBK is best placed to dominate this largest food category due to its consistent focus on quality, great taste and freshness. BBK has been very innovative to offer a bouquet of Biryanis based on different regional tastes and serve their customers with guilt free biryanis. We are proud to be associated with this spectacular brand and we thank Vishal and Kaushik for this opportunity. We look forward to working with the team in their journey”
– Vikram Surana, Head of Corporate Finance at Investec
