Burger centred quick service restaurant (QSR) chain Biggies Burger has secured Rs 5.5 crore in seed round led by Indian Angel Network (IAN). Uday Chatterjee, Jayant Mehrotra and Ajay Upadhyay from IAN LetsVenture and a few others invested in the company’s maiden funding round.
The capital will be utilised to expand its footprint, scale franchising network and introduce products into new geography, Biggies Burger said in a press release.
Founded by Biraja Rout, C Abhilash and Sandeep Satpathy in 2011, Biggies Burger specialises in burgers, subs, sandwiches, hot dogs and a line of beverages. Leveraging the franchise model, the company intends to have 300 stores by the end of 2024.
Biggies Burger has operations across 27 cities with more than 117 franchise units, and caters to the demand for McDonalds and Burger King across consumers in smaller cities. It also claims to have over 150 product designs and has launched a grilled burger chain that has 30% less calories than usual burgers.
According to the company, it targets a two-fold year-on-year growth in the next five years. Besides global burger chains such as Mcdonald and Burger King, the company competes with Negen Capital-backed Burger Singh and WhataBurger among others.
Source @Entrackr
