HospitalityBiz India
Hotels FoodService Operations Ministry Associations Equipment Editorial HR Technology Technology Advisory Board Community
Follow us on Facebook Follow us on Twitter instagram
    Home > NewsTrack
NEWSTRACK

VRO Hospitality raises USGD 3 million in CreedCap Asia-led Series A funding round

Wednesday, September 29, 2021, 11:30 Hrs  [IST]
HBI Staff | Hyderabad

With an aim to disrupt the culinary industry in India, Bengaluru-based hospitality chain VRO Hospitality has successfully raised an amount of USD 3 million (INR 22.5 crore) in a mix of equity and debt funding in Series A funding led by CreedCap Asia Advisors along with other undisclosed angel investors.

Started by Dawn Thomas, Safdar Adhoor, and Sharath Rice almost a decade back, VRO Hospitality owns and operates F&B brands such as Mirage, Hangover, Badmaash, Nevermind, and Tycoons among many others in Bengaluru. VRO also acquired Covid-hit F&B brands like Fava, Café Noir, Plan B, Caperberry, and One Night in Bangkok during the last 12 months amidst the pandemic and has also ventured into cloud kitchen brands with Burgers and Beyond, Holy Dah Pizzas and Smashed to adjust to the new world of dining.

The fresh funding will help VRO to expand its horizon to Mumbai, Goa, and Chennai. About 80 percent of the fresh capital will go into new projects, 10 per cent on technology and team building, and 10 per cent on cloud kitchen brands.

“We are extremely delighted to share that our investors have shown immense faith in us. Our funding comes at a time when the hospitality industry across the globe is struggling due to the impact of the Covid. The confidence of our investors on us is a testament to our growth potential that we have delivered so far. We are focussed on our growth mode and this fresh round of funding will help us to stay on the trajectory for success,” said 29-year-old co-founder Dawn Thomas.

VRO Hospitality prides itself in its repertoire of multi-format restaurants, cafes, and lounges across 18 outlets in Bengaluru. The founders' previous venture, an event curator platform SteppinOut, was acquired by Dineout, the restaurant services and reservation platform owned by Times Internet.

Commenting on the funding, Vishal Pereira, Managing Director at CreedCap Asia, said: "This decade, F&B brands will be hybrid in nature of operations and own the online/offline experience for customers. The founders at VRO sold their last business to Dineout and we believe they are the right team to back for this hybrid model.”

At a time when profit is an alien word in the hospitality industry, VRO is running at a 20% operating profit and its revenues have increased by 4.1X since October 2020. VRO employs more than 600 people and plans to build a unique food and beverage platform with offline and online experiences.

“We are looking towards an exciting future. We are planning to add 16 new projects across five cities including Bengaluru, Goa, Mumbai, Kochi, and Chennai. By the end of the financial year, we also plan to take some of our brands pan-India and also to Singapore and Dubai,” said Dawn.

 
Print News Email News Back
Bookmark to Add to NewsvineNewsvine Bookmark with del.icio.usdel.icio.us Digg ItDigg
Add RSS to Add to Google Add to My Yahoo! Subscribe with Bloglines Subscribe
 POST A COMMENT
* Name :    
* Email :    
* Message :  
   
RELATED NEWS
»  Radisson Blu Hotel MBD Ludhiana completes nine successful years of providing remarkable hospitality services
»  Azure Hospitality gears up for the launch of three new restaurants in Goa
»  Trends in the future of cloud-based hospitality tech for 2022: Aditya Sanghi, Co-Founder, Hotelogix
»  Cancelled Christmas, New Year bookings result in INR 200-crore loss for hospitality sector
»  FHRAI Signs MoU With J&K Govt. To Develop Hospitality & Related Infrastructure In The UT
»  IHCL collaborates With CII and EHL, Switzerland, Will Impart Vocational Education To Hospitality
»  Noesis presents the 'Millennials report' on Travel and Hospitality
»  Hospitality Purchasing Managers Forum felicitated at Ambrosia Awards 2021
»  Oxford University Press organoses panel discussion on 'Future of Hospitality Management in India post Covid-19'
»  Grano69 Beverages Pvt Ltd raises USD 360,000 in its seed round of funding
»  FHRAI Submits Hospitality Industry’s Recommendations To The Finance Ministry For The Union Budget 2022-23
»  IHCL Receives Global Honours At The Worldwide Hospitality Awards 2021
»  Two Glion Institute of Higher Education Alumni win the prize of Best Professional Success at the Hospitality Awards 2021
»  Indian School of Hospitality with Sommet Education Kick-off Development Plans for India Region
»  HRAWI welcomes Maha Govt’s order on lifting of timing restrictions for hospitality industry
»  Hospitality Industry Awaits Govt. To Notify Rs.60,000 Cr Loan Guarantee Scheme; FHRAI Requests FM’s Urgent Intervention
»  FHRAI appeals to the Pm for relief from abnormal price rise of LPG for hospitality industry
»  The Rug Republic acquires The Glass Villa Goa, enters the hospitality business with exquisite villas
»  9 Fern Resorts bags prestigious Hospitality India Travel Awards 2021
»  DreamSetGo becomes Manchester City's Official Football Hospitality Experiences Partner in India
 
CoverStory
Analysis
 
  The Indian Institute of Architects (IIA) Natcon 2020 virtual event concludes successfully
  Winners of The Park Elle Décor Student Contest felicitated at Indian Design ID 2020
 
weekly
Receive the best of Hospitality content in your mailbox.
Weekly e-Newsletter
Events Calendar




Events
 
 
people
interview
newappoint
expert
© Copyright 2016 Saffron Synergies Pvt Ltd
HOME   |   ABOUT US   |   CONTACT US   |   FEEDBACK   |   DISCLAIMER   |   SITE MAP   |   ARCHIVES