Burma Burma raised additional $2 M Equity Investment from Negen Capital, others

Burma Burma, a vegan restaurant chain in Myanmar, has secured a $2 million equity investment round led by Negen Capital and other family offices.

The startup had raised $2 million in its seed round earlier in November 2022, with participation from Negen Capital and other investors.

Burma Burma Restaurant and Tea Room was founded by Ankit Gupta and Chirag Chhajer to provide Burmese cuisine to a wider audience. The brand is currently realizing its goal of becoming more than just a restaurant and offering its customers a fresh, healthful dining experience that engages them on multiple levels.

The Mumbai-based company says it is looking to grow its presence in the country and claims to have quickly spread to the other five metropolises: Delhi, Noida, Bengaluru, Kolkata, and Gurugram.

Thirteen restaurants and delivery kitchens are run by Burma Burma throughout India, with prominent locations in Delhi, Gurgaon, Noida, Mumbai, Bengaluru, Hyderabad, Kolkata, and Ahmedabad. The company says it has grown significantly in the last year, more than doubling its annual recurring revenue (ARR) from Rs 46 crores in FY23 to over Rs 100 crores in FY24.

The company reports that it achieved over 13% EBITDA in July and plans to achieve over 15% EBITDA on a monthly basis by FY25.