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Bengaluru-based restaurant company Popo Global, which operates gourmet food brands including The Pizza Bakery, Paris Panini and Smash Guys, has raised ₹532 Cr (around $56 Mn) from Artal Asia. Popo Global did not disclose its valuation and the size of Artal Asia’s stake. Founded in 2017 by brothers Nikhil Gupta and Abhijit “AB” Gupta, Popo Global began with gourmet sourdough pizza brand The Pizza Bakery. It later expanded its portfolio with Paris Panini, which offers French-inspired paninis, sandwiches, wraps, and crepes, and smash burger brand Smash Guys. The company claims to operate 41 outlets across Bengaluru. With the latest investment, Popo Global plans to expand beyond Bengaluru and scale its portfolio of food brands across India. Popo Global said its operating model combines the convenience of quick-service restaurants, the customer experience associated with fine dining, and the scalability of delivery kitchens. The company said its model focuses on core products, dine-in and delivery channels, standardised processes, and restaurant real estate selection. It also claimed to have recorded strong same-store sales growth, repeat rates, and unit economics, but did not disclose the underlying figures. Popo Global added that it had largely bootstrapped its expansion in Bengaluru before the latest transaction. “Bringing Artal Asia into Popo lets us think considerably bigger while keeping the spirit that got us here - never cutting any corners on quality. They have partnered with some of the world's most successful food businesses, and they understand that the product has to stay at the centre of it,” said the cofounders. Artal Asia is an affiliate of global investment firm Artal Group. Its India portfolio includes Capital Foods (later acquired by Tata Consumer Products), Burger Singh, and Jumbotail. The investment comes amid continued investor interest in Indian restaurant and food brands looking to expand their offline presence and enter new markets. Foodtech startup Dil Foods recently raised ₹72 Cr to expand its footprint and launch more cuisine offerings. Similarly, Gen Z-focussed cafe chain Alienkind raised $3.2 Mn in June to enter new markets and support its next phase of growth. Meanwhile, Bengaluru-based bubble tea and QSR brand Boba Bhai raised ₹40 Cr to expand its offline presence earlier this year.
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