The brand has doubled its presence and tripled its revenue since last year and are eyeing a 5X growth with this funding
Delivery First QSR brand Samosa Party has raised $2million in its Pre Series A funding round backed by Kalaari Capital.
Samosa Party is building a Global QSR on India’s most consumed snack – Samosa. There are 6 Crore samosas sold and eaten in India every day and the market for snacks which is largely unorganised right now, is a 3.65 Bn USD opportunity.
Samosa Party operates 15 outlets in Bangalore and Gurgaon. With this round, the brand plans to expand to 100+ outlets across Delhi NCR, Hyderabad, Chennai and Bangalore. The brand has doubled its presence and tripled its revenue since last year and are eyeing a 5X growth with this funding
Samosa Party aims to build a global brand from India. Fried on order samosas delivered to the door step with freshly brewed chai on order is the brand’s current USP. The brand is known to bring innovation in their product offerings and formats which has helped them create a loyal fan base not just among millennials but across all age groups.
Global QSR brands own the largest share in the Indian Food service market with annual revenues upwards of 10000 Crores with Pizzas and Burgers as the main product offering. The white space in Indian QSR foods is being led by categories like Biryani, Momos and Samosas.
Amit Nanwani Co-founder of Samosa Party says, “The Global QSR opportunity is 250 Bn USD with the largest share occupied by American brands. We want to create the first Global Indian QSR brand. Our approach on the back of very strong product expertise, consistent quality and an asset light approach will help us scale across geographies seamlessly.”
Diksha Pande, Co-founder at Samosa Party says, “Kalaari is known to be an early spotter of trends and has backed the first generation of successful consumer internet start-ups. We are excited to have their confidence and support as we build a new age Global QSR brand out of India for the World.”
“The food services market will continue to grow as penetration of food delivery increases over the next decade. The delivery first model allows brands to scale quickly, allowing them to have stronger unit economics while leveraging aggregator platforms for distribution” said Vamshi Reddy, Partner at Kalaari Capital. “When we met Diksha and Amit, what impressed us was their frugal mindset and deep focus on crafting an incredible customer experience on India’s most consumed snack. Given the tail winds to the sector as well as the team’s execution and brand building abilities, we believe that Samosa Party will emerge as a dominant player in the Indian QSR market.”
Samosa Party is the second portfolio company for CXXO, a flagship program by Kalaari Capital that seeks to level the playing field for female founders in India’s start-up ecosystem
Source: Business World