Key points:
- Hospitality chain Vro has raised $10 million in a bridge funding round led by Axis Bank and Gruhas.
- The funding will be used for expansion and product development.
- Vro Hospitality operates ten brands and has 40 outlets across multiple cities in India.
Vro Hospitality, a fine dining chain operator, has secured $10 million in a bridge funding round. The round was led by Axis Bank and Gruhas, a venture capital fund backed by Nikhil Kamath. The funding, a mix of equity and debt infusion, will be used for expansion and accelerating product development.
Vro Hospitality was founded in 2018 and operates ten brands including Badmaash Lounge, Hangover, and Mirage. The company has a presence in several cities across India and claims to have 40 outlets. In addition to its physical restaurants, Vro Hospitality also runs cloud kitchen brands such as Burgers and Beyond and Holy Doh Pizzas.
This funding round follows a Series A round in 2021 where the company raised $3 million from CreedCap Advisors and angel investors. The recent funding will help Vro accelerate its growth, expand its reach, and establish itself as a reputable brand in the dining industry.
Axis Bank and Gruhas are both notable investors in the hospitality sector. This is the second investment made by Gruhas in consecutive days, following its participation in a pre-Series A funding round for co-living space provider Settl. With the backing of these investors, Vro Hospitality is well-positioned for further expansion and success in the hospitality industry.
Overall, this funding round will provide Vro Hospitality with the necessary capital to fuel its growth and enhance its offerings. With the support of Axis Bank and Gruhas, the company is poised to solidify its position as a reputable brand in the dining industry and continue expanding its footprint across India.
