Bengaluru-based chicken quick-service restaurant (QSR) chain BIGGUYS has recently closed a funding round of $2 Mn (approximately INR 16 Cr), comprising both equity and other instruments, primarily from non-resident Indians (NRIs) residing across various countries like Singapore, Australia, and Switzerland.
Funding Details and Investors
The group of NRIs backing BIGGUYS includes prominent names such as Surya Kalai, Vinod Achutan, and Nagaraja Kalia. The infusion of fresh capital is aimed at supporting the company’s expansion initiatives into key cities across Bengaluru, Chennai, Odisha, and Andhra Pradesh.
Vision for Expansion
Founder of BIGGUYS, Biraja Rout, expressed his excitement about the recent investment, emphasizing its pivotal role in driving the company’s ambitious expansion plans and further cementing its position as a leader in the Indian QSR landscape. BIGGUYS, established in 2018 by Rout along with Abhilash Bellur and Sandeep Satpathy, operates as a chicken QSR chain under the umbrella of Beamer Brands Pvt Ltd.
Strategic Utilization of Funds
Rout elaborated on the strategic deployment of the raised capital, highlighting the intention to offer NRIs a secure investment avenue through a minimum guarantee model that ensures better returns compared to conventional investment avenues.
Industry Trends and Competitive Landscape
The investment in BIGGUYS underscores the growing interest among investors in India’s QSR segment. Despite the sector facing challenges due to the rapid expansion and adoption of food tech giants like Zomato and Swiggy, QSR chains continue to attract investor attention. Recent funding rounds, such as the INR 70 Cr ($8.3 Mn) raised by QSR chain Wow! Momo from Z3Partners, further affirm the sector’s appeal to investors.
With the backing of NRIs and a clear vision for expansion, BIGGUYS is poised to navigate the evolving dynamics of the QSR landscape and carve a niche for itself in the burgeoning Indian food industry.
