VRO Hospitality raises $10M in bridge round led by Axis Bank and Nikhil Kamath's Gruhas
The company plans to use the funds to expand its brand across India, expand operations, and accelerate product development.
Food and beverage chain has raised $10 million in a bridge round through a mix of equity and debt.
The round was led by Axis Bank, Nikhil Kamath-backed Gruhas, and UC Inclusive Credit. It also saw participation from NB Ventures, Kunal Shah of Cred, and actress Mouni Roy.
Bengaluru-based VRO Hospitality owns and operates 40 fine-dining outlets, including upscale lounges and restaurants, in Bengaluru, Mumbai, Goa, Kochi, Kolkata, Hyderabad, and Ooty. Its portfolio includes brands such as Badmaash, Mirage, Plan B, Taki Taki, Los Cavos, Cafe Noir, One Night in Bangkok, Tycoons, Hangover, and Nevermind. The company also runs cloud kitchens such as Burgers and Beyond, Holy Doh Pizzas, Smashed and Whacky Chang.
VRO Hospitality plans to use the funds to expand its brand across India, expand operations, and accelerate product development.
"Post-Covid the hospitality sector has witnessed an exponential growth and rightfully so. VRO Hospitality has expanded across key markets in India. This successful bridge will help VRO Hospitality accelerate growth, expand its reach, and further solidify its position as a reputable brand and disruptor in the dining industry," said Abhijeet Pai, Co-founder, .
The company is on an expansion drive, both nationally and internationally, with brands Badmaash, Cafe Noir, and Taki Taki leading the way into new territories, said VRO Hospitality.
VRO Hospitality was started in May 2018 by friends Dawn Thomas and Safdhar Adoor and experienced restaurateur Sharath Rice. It offers a culinary experience through physical restaurants and cloud kitchens.
The founders' other venture SteppinOut, an online event and experience curating platform, was acquired by Times Internet Limited in early 2021.
Edited by Swetha Kannan