Sky Gate Hospitality Pvt. Ltd, which runs food startup Biryani By Kilo (BBK), has raised $1 million in another pre-Series A round of funding from a clutch of investors led by Ajay Relan, co-founder and former managing partner of private equity firm CX Partners.
Gurugram-based startup plans to use the fresh capital to expand its footprint across the country and intends to raise its Series A round by early next year.
BBK currently has 11 outlets in India, 10 of which are in Delhi-NCR. It aims to launch another nine outlets across metros and big cities by March 2019.
The brand claims to be growing at a rate of 70-80 per cent year-on- year with a current sales run rate of Rs 24 crore annually. It hopes to close the current financial year with a run rate of more than Rs 40 crore.
BBK claims to model its business on the premium delivery concept. It operates on a hub-and-spoke model, providing raw material and semi-cooked produce to its outlets.