[Funding alert] Biryani By Kilo Secures $9 Mn From Alpha Wave Ventures, Vevek Ventures, Others

Alpha Wave Ventures led the $9 million (INR 72 crore) Series C funding round for cloud kitchen firm Biryani By Kilo (BBK).

Among the other investors in the round were Vevek Ventures, DSP HMK Holdings, IvyCap Ventures, Incred Weath, and Clear Bridge Ventures, as reported by Entrackr.

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The board of Biryani By Kilo has reportedly decided to raise the funds by issuing 18,086 Series C CCPS at an issue price of INR 39,800 per share, in accordance with the company's regulatory registration with the Registrar of Companies, according to Entrackr.

IvyCap Ventures, Incred Weath, and Clear Bridge Ventures contributed INR 16.5 Cr, INR 8.2 Cr, and INR 8.3 Cr to the round, while Alpha Wave Ventures contributed INR 28 Cr.

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After the fundraising, Alpha Wave is now said to own 35.06% of the venture, with the remaining holdings held by IvyCap Ventures, Clear Bridge, and 1.09%, 1.10%, and 5.37% of the company, respectively.

Biryani By Kilo provides delivery services to over 45 cities and has over 100 locations around India, including Bengaluru, Hyderabad, Kolkata, and Delhi-NCR.

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About Biryani By Kilo

Kaushik Roy and Jindal established Biryani By Kilo in 2015. A variety of biryanis, kebabs, kormas, and desserts are sold by the firm.