Wednesday, July 24, 2024

House of Biryan Raises USD 2 Million

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Mumbai-based restaurant chain House of Biryan has raised USD 2 million in a funding round led by Al Siraj Holdings, a Middle Eastern family office, Angel Star Ventures, a US-based fund from Pennsylvania, and various high-net-worth individuals from the United States.

The startup plans to use the capital to scale its business and aims to achieve an annual revenue run rate of Rs 100 crore by December 2025. The brand’s strategy focuses on deepening its offerings within its core categories rather than diversifying into multiple brands.

House of Biryan currently has a 2% annual operating loss but aims to achieve single-digit profitability by December 2024.

Founded in 2022 by chefs Mikhail Shahani and Mohammed Bhol, House of Biryan specializes in biryani and other Mughlai and North Indian cuisines. The restaurant chain started with two cloud kitchens and has rapidly expanded to 12 kitchens across Mumbai and Delhi, with plans to grow its ghost kitchens to 30. The chain currently serves about 40,000 orders a month, with order sizes averaging between Rs 700 and Rs 800. The restaurant chain plans to deepen its offerings in biryani, kebabs, and other Mughlai dishes.

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