Biryani By Kilo’s parent company, Sky Gate Hospitality, has acquired a majority stake in healthy dessert brand Get-A-Way for about $2 million. With this partnership, the brand will get access to Biryani By Kilo’s over 100 cloud kitchens in about 45 cities.
Meanwhile, the cloud kitchen brand, known for its biryanis and kebabs, is also in talks to raise its Series C funding round which it expects to close by early next year.
Talking about the investment in the healthy dessert start-up, Vishal Jindal, Founder & Co-CEO, Biryani By Kilo, told businessline, “With our investment and value-addition, we expect Get-A-Way to scale up as a category creator and leader. With this partnership, we are combining our brand power to reach out to new and existing customers to offer a combination of delectable biryani with sumptuous desserts . They have a great range of healthy dessert products, while we have a strong distribution network. “
Get-A-Way, as a start-up , had appeared in Shark Tank India season 1 and bagged an investment of ₹1 crore from 3 investors, Aman Gupta, Ashneer Grover and Vineeta Singh. The brand offers products such as high-protein ice-creams, low-calorie kulfis, popsicles and ice-cream sandwiches. It also has plans to launch vegan ice-creams and healthy cakes in the coming days.
“We believe the healthy dessert category and the frozen dessert category is taking-off as a key trend and this move helps us to invest in this emerging segment ahead of the curve. This is also part of our strategy to leverage on our cloud kitchens to invest in adjacent categories. We are also looking at investing in another start-up in the North Indian cuisine space,” Jindal added.
Meanwhile, Biryani By Kilo is in talks to raise its Series C fundraise. “ We are in talks and hope to close our Series C fund-raise by February-March next year. We are looking at raising about $40 million,” he stated.
The biryani and kebabs delivery chain expects to end this fiscal with over ₹250 crore in revenues. Jindal added that the company will focus on deepening its presence in the existing 45 cities.
The Hindu Business Line 05th Dec 2022