The homegrown quick-service restaurant chain will raise the funds to expand its outlet network from the existing 25 to 100 by 2020 end.
Burger Singh is looking to raise around Rs 50 crore in Series B round of funding by 2019. The homegrown quick-service restaurant chain will raise the funds to expand its outlet network from the existing 25 to 100 by 2020 end.
The company's current investors along with new investors may participate in this round.
Kabir Jeet Singh, Founder and CEO, Burger Singh, said, "We will start looking out for Series B round of funding in a tune of Rs 50 crore before the end of this financial year. Once we start the talks, it may take us up to six months to close the round. The move will help us to become a national player."
The first outlet of Burger Singh was opened in November 2014. The firm has raised more than $1 million in pre-series A funding from both strategic and angel investors such as Ashvin Chadda, Rahul Singh, Dheeraj Jain, Ranvijay Singh, and Avtar Moga.
"I am very happy with my current investor set. But I would like to get a little diversity in the group. Somebody who brings in something more than just money would be ideal," Singh further said.
Recently, the QSR chain has launched its two restaurants in Central London. It aims to reach 40 outlets by the end of this year and 100 outlets by 2020.