Burma Burma Nets ₹38 Cr At ₹500 Cr Valuation

Mumbai-based restaurant and tea room chain Burma Burma has raised over ₹38 Cr (about $4 Mn) in a funding round at a valuation of ₹500 Cr from existing investor Negen Capital, along with participation from investors Endurance Capital and Coheron Wealth.

The startup said its valuation has soared 233% over the past three years from ₹150 Cr to ₹500 Cr. With the latest round, its total funding to date has reached $11 Mn.

Burma Burma plans to use the fresh capital to expand its footprint into new cities while strengthening its presence in existing markets.

Founded in 2014 by Ankit Gupta and Chirag Chhajer, Burma Burma is a restaurant chain that serves authentic Burmese cuisine across 21 locations in cities like Delhi NCR, Mumbai, Bengaluru, Hyderabad, Kolkata, Ahmedabad, and Chandigarh.

On the financial front, Burma Burma reported a 48% increase in its revenue to ₹106.1 Cr in FY25 from ₹71.9 Cr in the previous fiscal year. The restaurant chain also narrowed its net loss 79% to ₹1.3 Cr from ₹6.3 Cr in FY24. Burma Burma said it reported outlet-level profitability of over 21% in FY25, while its EBITDA margin stood at around 8%.

“The current fundraise allows us to accelerate expansion in a calibrated manner while strengthening our presence in markets where the brand has already demonstrated strong traction,” said cofounders Chhajer and Gupta.

Burma Burma competes with the likes of Berco’s, Mamagoto, Yum Yum Cha, Mainland China, among others, in the casual dining Asian and Pan-Asian space.

The funding comes at a time when restaurants and food businesses are facing a persistent LPG shortage, fuelled by the ongoing conflict in West Asia. 

Restaurants are reportedly facing losses in the range of 20-30% due to limited gas supply, with some outlets shutting down temporarily as they cut down on dishes requiring long cooking times.

The central government recently directed refineries to increase production by around 10% to stabilise supplies.

On the broader outlook, the Indian food service market is rapidly expanding and is projected to reach $125 Bn to $153 Bn by 2030 to 2031, clocking a CAGR of 10% to 12%. Driven by rising incomes, urbanisation, and digitisation, the sector is shifting from unorganised toward organised players, including QSRs, cloud kitchens, and restaurant chains, which are expected to capture 55% of the market share by 2030.

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