Good Flippin’ Burgers raises $4 mn in Series A round from Tanglin Venture
New Delhi: Quick service burger chain Good Flippin’ Burgers has raised $4 million in its Series A round of funding from Tanglin Venture Partners.
The company said this cash infusion bolsters the company’s financial resources for growth.
It first raised $1 million in April last year and claims to have grown 3x since.
The company was founded by Viren Dsilva, Sijo Mathew, and Sid Marchant.
In the next 12 months the company will concentrate on its geographical expansion and reinforce its supply chain, and further refine its dining and quick service models.
Ashika Capital was the financial advisor for this round.
DSilva said: “This investment is a significant milestone for us and will empower us to expand our operations, fortify our supply chain, and bring our delicious burgers to an even wider customer base.
We are grateful for the overwhelming love and support we have received from our loyal patrons and will continue to keep delighting them with our product portfolio.”
“We are really impressed with their focus on supply chain capabilities which has enabled them to maintain the highest level of quality as well as consistency across their store footprint.
We are extremely excited to be partnering with the team and look forward to working with them towards building an enduring business,” said Sankalp Gupta, partner at Tanglin Venture Partners.
According to ICRA, the Indian quick service restaurant industry revenues are likely to increase 20-25% in FY24.
This will be achieved by improving average daily sales and store additions, it said.
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