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The Barbeque Company raised $1.5mn from a group of angel investors
Friday, 26 November, 2021, 08 : 00 AM [IST]
Our Bureau, Mumbai
In its pre-seed round, the Delhi-based corporation The Barbeque Company secured $1.5 million from a group of angel investors. The first restaurant, opened in Janakpuri, New Delhi, in 2015. It is planning to use the funds to open more company-owned outlets. In addition, the company seeks to launch branches in the major cities and then look forward to moving into II Tier and III Tier Cities in the next phase.

Nitesh Agarwal who has led this fundraising round, invested the most out of all the others as he believed in the company’s possibilities and potential. As a revenue vertical it will also focus on opening some  express outlets (for Takeaway only).

Presently, it has six branches, all of which have a profitable business model and healthy cash flow.

Harmandeep Khurana, founder and CEO, The Barbeque Company, said, “Since the market is so broad, tiers 2, 3, and 4 remain unexplored by competitors, providing a premium experience. We intend to establish ten additional locations in the next few months, with a sales target of Rs 50 crore, and Premium buffet will be the same price for customers but with no sacrifice on ambience."
 
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