Funding of INR 32 crores secured by House of Biryan from Bestvantage, MS Dhoni, and other investors
In an exciting turn of events, Mumbai-based foodtech startup House of Biryan has secured Rs 32 crore ($3.7 million) in a growth funding round. Led by Bestvantage Investments, the round also saw participation from M.S. Dhoni, Mohit Goyal, Abhineet Singh, senior executives from SoftBank, Kedaara Capital, and Apax.
Founded in 2022 by chefs Mohammed Bhol and Mikhail Shahani, House of Biryan offers a unique experience to customers, allowing them to customize their orders. The startup operates a cloud kitchen network, serving biryani bowls, kebabs, curries, and side dishes.
House of Biryan has already demonstrated profitability and the ability to build customer loyalty, with an average customer rating above 4.3. The startup has served 2.8 million customers across 4.9 million orders and boasts a 47% repeat usage rate.
Raman Sharma, Founder & CEO of Bestvantage Investments, considers House of Biryan a consumer brand with global resonance. He expressed his excitement about backing House of Biryan in its journey of taking biryani global. Raman Sharma, along with other investors, believes in the potential of House of Biryan to expand its presence in India's tier I cities and enter international markets such as Australia, Japan, the United Kingdom, and North America.
House of Biryan has already made strides in its international expansion, opening its first overseas kitchen in Dubai earlier this year. The startup aims to expand its kitchen outlets from 22 to between 120 and 150 over the next three years.
With this fresh infusion of funds, House of Biryan has set a revenue target of Rs 450 crore to Rs 550 crore for the next three years. The startup is EBITDA-positive in its core markets and has reached an annual revenue run rate of Rs 50 crore.
In July 2024, House of Biryan raised $2 million in a funding round led by Al Siraj Holdings and Angel Star Ventures. However, the name of the investor who led the $2 million financing round in spring 2024 remains undisclosed.
As House of Biryan continues to grow and expand, it is poised to revolutionize the biryani industry and bring the flavours of India to the world.
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