FoodTech Company ‘Biryani By Kilo’ Raises $1 Million
A Gurugram-based foodtech company called ‘Biryani By Kilo’ has reportedly secured funds amounting to $1 million in a pre-series A funding round. The investment was carried forward by a clutch of investors led by Ajay Relan (Founder Chairman at CX Partners) and Vinay Mittal (Chief Financial Strategist at HT Media).
The purpose of the startup is basically to use the funds raised in boosting up the operations and developing over 20 more stores all over the country. Apart from this, the company also aims to achieve a sales run rate of more than Rs 40 crore by March 2019. The current revenue of the company is nearly Rs 24 crore along with a 70-80 precent growth rate.
The company also stated, “BBK would be raising Series-A round early 2019 to take BBK pan India, and become Rs 100 crore+ in t...