This funding round was led by Turner Morrison Ltd., with notable participation from Homage Ventures LLP and existing investors
New Delhi: QSR chain Burger Singh’s parent company Tipping Mr Pink Pvt. Ltd has successfully secured an undisclosed amount in a pre-Series B funding round, elevating its valuation to $52 million, a release by the company stated on Thursday.
The round was led by Turner Morrison Ltd, with notable participation from Homage Ventures LLP – Office of Aditya Ghosh and a contingent of existing investors, the release added.
Burger Singh’s investors include Ashish Dhawan, Rajesh Bothra – RB Investments, Negen Capital, Singer – Jasleen Royal, Actor – Rannvijay Singh, Rukkam Capital, Ashvin Chadha – Co-Founder Anicut Capital, Vikramaditya Mohan Thapar Family Trust, VM Salgaocar & Brother Pvt Limited Family Office, Sunjay Kapur Family Office of – Sona Comstar, Mumbai Angels, and Let’s Ventures.
The round serves as a precursor to a major financial milestone for the company—a $10 million fundraising initiative slated for December 2024 to grow and innovate.
Funds from the current round will be used for growth and expansion.
“Our expansion is not just about scaling up; it’s about innovating and evolving in the QSR space. The ‘Burger Singh Express’ model is a crucial part of this vision,” said Kabir Jeet Singh, founder, Burger Singh.
In the next 60 days, Burger Singh plans to deploy 15 of these kiosks at various metro stations in Delhi, with intentions to expand to high-traffic areas like universities, malls, hospitals, and airports. This move aligns with the company’s franchise-led model, focused on risk mitigation and maximising franchise return on investment.
Started as a startup, Burger Singh has over 150 stores across 65 cities, including in Shillong, Guwahati, and Jammu. It plans to open stores in Bengaluru, Pune, Hyderabad and Mumbai.
The company is on track to close the financial year with $18 million in QSR sales, the release added.
