Big Fish Ventures Fishes Out Rs 75 Cr In Second Round Of Funding

Go fish!

New Delhi based enterprise Big Fish Ventures raised INR75 cr in a round two funding. Eminent angel investors and founder Umang Tewari brought in the funding.

Big Fish Ventures laid its foundation stone in 2015 and currently own and runs popular eateries in Delhi-NCR like Garm Dharam, The Junkyard Café, Vault Café and Public Connection.corrected

Image: Big Fish Ventures

 

Growth Frenzy

With 8 fully functional outlets already on its profile, the enterprise aims at taking that number up to 20 by the end of this year.

“The funds will be invested in expanding our existing brands, developing new concept-based brands and beefing up our technology in terms of presence on the mobile and online space,” Tewari said.

The startup is on a rapid growth frenzy and just last month launched a mobile app (on iOS & Android) to assist customers in booking tables at Big Fish Restaurants. And according to recent reports, it will step foot in Mumbai and – with it’s first international outpost – Dubai, in addition to exploring viable options in Bengaluru, Punjab, Chandigarh, Pune, Jalandhar and Hyderabad.

Big Fish holds rights to the concept and runs the functions and growth of its brands. As of now, the company is developing new concept-fed restaurants including courtyard concept Garden and a cafe called ‘OMG – Oh My God!’Screen Shot 2016-03-10 at 1.41.38 PM

Image: Big Fish Ventures

 

Indian F&B Sphere

2015 saw about 15 investment deals in the Indian F&B sphere. According to experts, restaurant growth has a lot of potential but remains largely untapped.

And while there are tens of takers for good quality chains and brands, the investors are being extra cautious given the sluggish growth for a number of F&B names, explains Siddharth Bafna, head of corporate finance and transaction services practice at Lodha & Co.

Additionally, the space is prone to instability when it comes to consumer sentiments, import restrictions, increase in minimum wages and inflation. “Moreover, not all of the earlier investments in the sector have seen great success,” he said.

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