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Good Flippin’ Burgers Raises $3.6 Million in Series A Extension from Tanglin Venture Partners

In a strategic move to bolster its growth trajectory, popular quick-service burger chain Good Flippin’ Burgers has successfully secured Rs 30 crore (approximately $3.6 million) in an extended Series A funding round from its existing investor, Tanglin Venture Partners.

The recent capital infusion comes in the form of 34,366 Series A1 cumulative compulsory convertible preference shares, as revealed in the company's regulatory filing accessed from the RoC. This latest funding round brings the total investment in Good Flippin’ Burgers to $8.6 million, inclusive of a $4 million Series A round led by Tanglin Venture Partners in June 2023.

The valuation of Good Flippin’ Burgers stands at approximately Rs 400 crore or $48 million post-money, indicating a remarkable 3X growth compared to its previous funding round.

Founded by Viren D’silva, Sijo Mathew, and Sid Marchant, Good Flippin’ Burgers has rapidly expanded its footprint, currently operating 25 outlets across key locations including Mumbai, Delhi, Gurgaon, and Noida. The chain offers convenient delivery services through its website as well as popular online aggregators such as Zomato and Swiggy.

Despite the challenges posed by the competitive landscape, Good Flippin’ Burgers reported robust growth in its scale during the fiscal year 2023, with operating revenue soaring by 3.58X to Rs 32.53 crore. However, the company recorded a net loss of Rs 3.91 crore for the same period. As of now, it is yet to disclose its financial performance for the fiscal year 2024.

In the bustling Indian fast-food industry, Good Flippin’ Burgers faces competition from notable players such as Burger Singh, Whataburger, and Biggies Burger. Notably, Biggies Burger secured Rs 5.5 crore in a seed round led by Indian Angel Network in September 2022, while Burger Singh raised Rs 30 crore in a Series A round led by Negen Capital in July 2022.

With this latest funding round, Good Flippin’ Burgers is poised to further solidify its market presence and accelerate its expansion plans, offering customers delectable burgers with a touch of convenience and innovation.


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