Johny Rockets, which entered India last year looks for funding options

Johny Rockets, which entered earlier last year, is looking for funding option to strengthen its presence in India, reported VCCircle.

The American burger chain which has signed a master franchisee deal with Prime Gourmet to operate its restaurant in India is looking for funding of around $4 million (Rs 25 crore).

Acording the sources, it was also reported that the chain has given the mandate for the fundraise to Lodha & Co.

However, Siddharth Bafna of Lodha & Co has responded "No comments," to an e-mail query sent by VCCircle.

The burger chain is planning to expand in Delhi-NCR, Bangalore, Chennai, Chandigarh, Jaipur, Pune, Hyderabad and Kolkata.

Last year it has opened a restaurant in Select Citywalk along with Prime Gourmet.

At the time of entry, John Fuller, CEO of Johnny Rockets, said, “With an ever-growing population of over 1.2 billion, second only to China, India provides a huge audience in a rapidly expanding consumer market. A younger population, larger disposable incomes, higher rate of urbanisation and exposure to western lifestyles are factors that point to the success of our unique brand in that country.”

Johnny Rockets plans to introduce its signature all-American offerings, with multiple veggie patty options, a focus on chicken breast sandwiches and buffalo tenderloin burgers.  While bringing classic American favorites to India, the menu also provides custom items that cater specifically to the palate of the people in the country.