New Delhi, Oct. 10 -- Hunger Inc Hospitality Pvt. Ltd, the parent company behind popular restaurant brands such as The Bombay Canteen, O Pedro, Veronica's, and Bombay Sweet Shop, has raised Rs 215 crore (around $24.2 million) in a fresh funding round co-led by Lighthouse Funds and DSG Consumer Partners.
VCCircle had exclusively reported that Hunger Inc. was in talks with Lighthouse Funds and other investors for its fresh funding round.
The new funding will support Hunger Inc.'s expansion plans across both its hospitality and packaged goods verticals.
Prior to this, the company had raised funding from Everstone Capital, Anamudi Real Estates, and Godrej Group siblings Tanya Dubash, Pirojsha Godrej and Nisaba Godrej. Its individual investors included former Tech Mahindra Ltd chief executive CP Gurnani and culinary entrepreneur Barkha Cardoz.
For DSG managing director Deepak Shahdadpuri, the investment represents a return to the kind of brand storytelling and innovation that has defined his portfolio, which includes Sula, Epigamia, Veeba, and Ugaoo.
Founded by Yash Bhanage and Sameer Seth in 2015, Hunger Inc began its operations with the opening of The Bombay Canteen. The company describes itself as one of Mumbai's early restaurants to spotlight lesser-known regional ingredients and present them with a fine-dining twist. It later expanded its portfolio with brands such as Bombay Sweet Shop, Enthucutlet, Veronica's, and Papa's.
Hunger Inc posted revenue from operations of Rs 88 crore in FY24 as against Rs 57.5 crore the year before. It turned profitable in FY24 after posting losses for three straight years, as per VCCEdge, the data research platform of VCCircle.
Published by HT Digital Content Services with permission from VC Circle.