F&B fine dining chain VRO Hospitality has raised $10 million in a bridge round. The funding was a mix of equity and debt and was led by Axis Bank, and Nikhil Kamath-backed Gruhas.
The round also saw participation from NB Ventures, Kunal Shah (Cred), and actress Mouni Roy. The latest infusion of capital will fortify the company’s aim to expand the brand across India and set new benchmarks in the fine dining ecosystem, per the company. The investment will fuel the expansion of its operations, accelerate product development, and further strengthen its position as a key player in the industry, it added.
“The funding round marks a pivotal moment for us, empowering us to amplify our efforts in redefining the hospitality experience through innovation and unwavering commitment to excellence,” said Dawn Thomas, Co-Founder and CEO, VRO Hospitality.
According to Abhijeet Pai, Gruhas, post-Covid, the hospitality sector has witnessed exponential growth, and rightfully so, the company has expanded across key markets in the country. “This successful bridge will help VRO Hospitality accelerate growth, expand its reach, and further solidify its position as a reputable brand and disruptor in the dining industry,” he added.
VRO Hospitality owns lounges and restaurants in Bengaluru, Mumbai, Goa, Kochi, Kolkata, Hyderabad, and Ooty. Some of their brands include Badmaash, Mirage, Plan B, Taki Taki, Los Cavos, Cafe Noir, One Night in Bangkok, Tycoons, Hangover, and Nevermind. Further, it is on an expansion drive nationally and internationally with brands including Badmaash, Cafe Noir, and Taki Taki.
With ten brands, which include Badmaash, Mirage, Plan B, Taki Taki, Los Cavos, Cafe Noir, One Night in Bangkok, Tycoons, Hangover and Nevermind at Bengaluru, Ooty, Mumbai, Kochi, Kolkata, and Hyderabad, summing up to over 40 outlets.