Roll Mafia, a QSR chain owned and operated by SLS Cuisines India Pvt Ltd, has raised about R1 Cr in seed round led by Singapore-based Equentia Natural Resources.
The round see the participation from Nirav Choksi and Rajiv Ramnarayan, co-founders and directors of the Singapore firm, HHC Holding Pte Ltd (Seed Fund, Singapore) and other HNI’s including Bhavin Shah, Manav Khanna and Ram Kewalramani.
The proceeds will be used towards enhancing its technological offerings, improving marketing strategy, scaling its operations in Pune and and expanding its core management team.
Co-founded in 2012 by Vishal and Varun Sahay, Roll Mafia operates in 3 locations in Patna and 8 locations in Pune. The firm has a mix of offline-online model for the two cities it is present. It currently has more than 70 employees and is planning to hire 250 more people as the operations expand, along with targeting a topline of R10 Cr for the financial year ending March 31, 2016.
The company is looking to open 50 more outlets in Mumbai, Chandigarh, Baroda, Bengaluru, Delhi and Gurgaon by March 2016.
Deals in space:
Mumbai based QSR chain Maroosh owned by Impresa Hospitality Management Pvt Ltd, had raised an undisclosed amount from Trans-Continental Ventures.
Kolkata based quick service restaurants chain Wow! Momo, had raised about R10 Cr from Indian Angel Network, valuing the company at around R100 Cr.
Technology enabled QSR chain, Faaso’s had raised $20 Mn (c.R120 Cr) in its second round of funding led by Lightbox Ventures. The investment which involved a mixture of equity ($16 Mn) and debt ($4 Mn) also saw the participation from existing investor Sequoia Capital.
UTI Ventures Funds Management Company Private Limited, the private equity investment subsidiary of UTI Asset Management Co Pvt Ltd, has sold its stake in Ascent Capital Pvt Ltd to the management of the firm, which is headed by Raja Kumar.