INDIA – The House of Biryan has raised a US$2 million investment from Al Siraj Holdings, Angel Star Ventures and high-net-worth individuals (HNIs) from the US.
The funding brings the total capital secured by the company to US$3 million.
The restaurant chain aims to significantly scale its operations, targeting 100,000 orders monthly and striving to surpass Rs1 billion (US$11.98m) in annual recurring revenue (ARR) by December 2025.
House of Biryan co-founder Mohammed Bhol said: “Our success lies in keeping things simple by delivering a biryani within 30 minutes.”
The company’s strategy focuses on deepening its offerings in biryani and kebabs, along with Mughlai and North Indian cuisine, rather than expanding into multiple brands.
This approach reflects the effect of quick commerce on customer behaviour and sentiment.
Currently, House of Biryan’s ARR stands at Rs250m across six businesses that have been operational for more than six months, and six kitchens that have been open for an aveage of one month.
The company maintains a current burn rate of -2% of earnings before interest and taxation and anticipates reaching break-even by September 2024, with expectations of achieving single-digit profitability by December 2024.
Launched in 2022 by Mohammed Bhol and Mikhail Shahani, House of Biryan now operates nine stores in Mumbai and three in Delhi, serving more than 150,000 customers.
Al Siraj chief investment officer Abhineet Singh stated: “I participated in a personal capacity in their previous round and worked closely to witness the consumer love along with solid unit economics.”
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