MUMBAI: Gurugram-based Junket Foods Pvt Ltd, owner of a burger chain Burgerama raises undisclosed capital from the venture funds Madison Capital with Anicut Angel in a pre-series A round.
The startup intends to use this capital in expansion across the Delhi/NCR region, hire more people and to develop backend operations to support the next phase of growth.
The pre-series A round is led by Madison Capital, a Singapore and New Delhi based fund which was founded by serial entrepreneur Rishab Malik, previously co-founder of Droom along with Anicut Angel Fund, based out of Chennai and New Delhi.
Alongside Madison, Madhur Singhal, head of Partnerships for OYO in APAC and a clutch of other strategic investors have also joined in the round.
“The Burgerama boys have brought a delivery-first, premium-fast food experience to Delhi NCR and we are excited to be partnering with this team,” said Rishab Malik, founder and managing partner of Madison Capital. Their ruthless focus on high quality, fresh and juicy burgers is extremely impressive and commendable and we are excited to launch new product lines and also scale geographically with the brand in the coming years.”
The burger category is particularly growing more and more consumers are resonating with the product in the country.
Last year in November, Burger King India had said that they expect the industry to grow very exponentially in the coming year because of the growth in the food delivery services.
“Demand for food delivery services through delivery aggregators online and through mobile apps has increased in recent years across the Quick Service Restaurant (QSR) industry, with the overall food delivery market increasing from $4.7 billion in 2016 to $ 8.0 billion in 2019, and projected to reach $18 billion in by 2024,” said Burger King India in its Draft Red Hearing Prospectus (DRHP).
According to Kabir Bose, co-founder of Burgerama, the brand resonates with anyone who craves authentic, international flavours.
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