Founded in 2012, Burma Burma operates 21 restaurants across Delhi NCR, Mumbai, Bengaluru, Hyderabad, Kolkata, Ahmedabad, and Chandigarh, and has built a niche positioning in India’s premium casual dining segment with a focused Burmese cuisine offering.

The company has reported annual recurring revenue exceeding ₹200 crore, with revenue growing at approx. 50% CAGR over the last three years. For FY25, the business recorded outlet-level profitability of over 21% and EBITDA margin of around 8%. The company’s valuation has increased from ₹150 crore to ₹500 crore over the past three years, supported by expansion across metro markets and improving unit economics.

The fresh capital will be used to support expansion into new cities and strengthen presence in existing markets, as the brand looks to benefit from growing consumer demand for differentiated dining experiences in India.

Commenting on the development, Co-Founders Chirag Chhajer and Ankit Gupta said, “We have spent the last several years building Burma Burma as a differentiated, cuisine-led dining brand with a strong focus on consistency, unit economics, and customer experience. The current fundraise allows us to accelerate expansion in a calibrated manner while strengthening our presence in markets where the brand has already demonstrated strong traction. As consumer preferences continue to shift towards premium and experience-led dining, we see significant headroom to scale the brand while maintaining the quality and distinct positioning that has defined Burma Burma so far.”

Neil Bahal, Founder of Negen Capital said, “Burma Burma has always stood apart in a crowded dining landscape. While the industry drifts toward centralized kitchens and frozen ingredients, they remain committed to cooking fresh and that discipline shows.Their stronger moat, though, is their menu. If you love a dish at Burma Burma, there’s only one place to go back to. That exclusivity drives loyalty in a way most restaurants can’t replicate; unlike pizza, where the craving has no fixed address. Their pure vegetarian, alcohol-free identity only adds to this. It’s an underserved positioning that gives Burma Burma a differentiated, investor-friendly story when the time comes for an IPO.”

The transaction was advised by Niamh Ventures, which acted as the investment banker to the company.

The post Burma Burma raises ₹38 crore backed by Negen Capital appeared first on Business of Food.