Good Flippin’ Burgers, a burger chain startup, raised $4 million in Series A round from Tanglin Venture Partners. The infusion of capital will primarily be utilized for the company’s geographical expansion, strengthening its supply chain, and enhancing its dining and quick service models.
The startup expressed its excitement about the funding, stating that it not only bolsters their financial resources for growth but also solidifies their ambitions of becoming the most beloved burger brand in India. Ashika Capital acted as the financial advisor for this funding round.
Earlier in April 2022, Good Flippin’ Burgers had raised $1 million and claimed to have achieved threefold growth over the past year. Founded in 2019 by Viren D’silva, Sijo Mathew, and Sid Marchant, the burger brand currently operates 23 outlets across Mumbai and Delhi. With 16 stores in Mumbai, the company recently expanded into Delhi, opening seven new outlets.
Viren D’silva, co-founder of Good Flippin’ Burgers, expressed that this investment is a significant milestone for them, empowering them to expand operations, strengthen the supply chain, and cater to an even wider customer base. The company aims to continue delighting its patrons with its product portfolio.
India’s food and beverage (F&B) market has been experiencing consistent growth and is projected to reach $156.25 billion by 2026. The funding comes at a time when overall funding for Indian startups has shown a slight improvement. In May 2023, the total capital raised by Indian startups increased by 15% month-on-month (MoM) to $1 billion, compared to $900 million in April. Additionally, the deal count surged by 31% from 61 in April 2023 to 80 in May 2023, according to Inc42 data.
With the latest funding, Good Flippin’ Burgers is well-positioned to accelerate its expansion plans and establish a stronger presence in the competitive Indian F&B market.
