Delhi-based Five Figs Hospitality Private Limited which owns and operates casual dining brand QDs recently raised $500,000 from a clutch of angel investors.
Commenting on the investment, Mandeep Singh, Co-founder, QDs, said,
“QDs is currently successfully running five outlets in Delhi, and, with the infusion of new funds, we plan to expand the dining experience innovatively across Delhi-NCR. Our investors are very positive about the company as well as our vision, and that is why, be it for our customers or our partners, we aim to accelerate the pace with these funds to be one of the leading differentiators in today's F&B experiences.”
The company said Renous Consulting acted as an exclusive advisor during the whole transaction and the funding will be used for targeting new markets and continued development as the brand has been showing incredible potential to reshape the F&B industry.
Varun Dhinga, CEO, Renous Consulting, said,
“Five Figs Hospitality Private Limited is significantly known for its involvement in the F&B industry; therefore, mapping relevant investors from our network wasn’t that difficult. By creating a symbiotic environment for both the brand and the clutch investors, we are glad that the latter was able to secure funds in a smooth way.”
QDs is a decade-old multi-cuisine restaurant that claims to serve high-quality Indian, Chinese, and Continental cuisines with a modern infrastructure, ambience, and a range of options at pocket-friendly prices.
Founded in 2008 by Akhil Malik and Mandeep Singh, QDs initially opened to the public in Jawahar Nagar – Bunglow Road and then shifted to Hudson Lane (North Campus of Delhi University) in 2012. In 2010, QDs opened its second outlet in Satya Niketan, better known as the South Campus of the Delhi University. Later, on the back of the brand's rising popularity, three more outlets were launched in Lajpat Nagar, Karol Bagh, and Laxmi Nagar.
This May, Bengaluru-based F&B brand &Me also raised a follow-on investment round from existing investor Matrix Partners India to expand its team, scale operations nationally, and widen its product offering.
(Edited by Athirupa Geetha Manichandar)
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