Consumer chain House of Biryan, five others are raising early-stage funding

Quick-service restaurant chain House of Biryan, Climatetech startup Ricron Panels, software-as-a-service (SaaS) platforms Centriti and Helium, along with gaming startup Felicity Games, raised seed funding, the companies said on Tuesday.

Khaneh Briyan has raised $2 million (Rs 16.6 crore) in a funding round from Middle East-based El Siraj Holdings, Angel Star Ventures and unidentified high net worth individuals (HNI) from the US.

According to its statement, the startup has raised $3 million so far.

These funds will mainly be used to support brand growth in Mumbai and Delhi-NCR.

House of Biryan currently has 12 kitchens between Mumbai and Delhi and plans to add 30 more.

The company claims its current ARR is Rs 25 crore for six businesses that have been open for more than six months, with six kitchens that are only a month old on average. It looks to break even by September 24, with single-digit gains by December 24. Currently, its current fuel rate is -2% EBIT.

Refurbished electronics startup Qarmatek has raised $1 million (Rs 8.3 crore) from multiple investors including Orange Orbit’s Umang Nahata, Orange Orbit’s Rakesh Raman and Texspin’s Vishal Makwana.

The newly raised capital will be used to expand Qarmatek’s presence across multiple categories in refurbished electronics, scale operations and grow geographically.

Established in 2011, Qarmatek works closely with all major electronic brands to provide customers with a seamless repair experience.

In 2022, the startup raised $3 million in a funding round led by GVFL (Gujarat Venture Finance Limited) and Caspian Debt.



Rickron panels

Ricron Panels has raised an undisclosed amount in a Series A investment round led by Boon Sustainability.

The round also included Harsh Mohunta of Classic Display Systems, Dinesh Babbar (ex-Infra.Market), boutique investment bank Veromint Advisors, Venkatesh Srinivasan, (E-EY GDS), architect Renuka Sharma and Kaushik Rajan, founder of Stoicus Legal. .

The funds raised in the current round will be used to enhance the startup’s marketing and distribution efforts and expand Ricron’s presence in the Indian market.

Ricron Panels, founded by Rahul Chaudhary and Radhika Chaudhary, is a plastic waste recycling company that converts low-value multi-layer plastic (MLP) into high-quality, carbon-negative and eco-friendly building materials using its patented technology. he does.

End uses include furniture, housing, roofing and construction.

SaaS (B2B) platform Centriti has raised $718,644 (6 crore) in a pre-Series A funding round led by Emergent India Ventures (EV2). This round saw the participation of Ethereum Angels, Alluvium Capital, Venture Garage, Coral Bay Ventures, HOF and Brigade Group.

Funds raised will be used to improve its technological capabilities and expand into new geographies.

Founded in 2022, Centriti provides a technology-driven end-to-end procurement system that centralizes the procurement process for hotel, restaurant and catering (HoReCa) businesses.

The platform leverages AI-based inventory management solutions to help hotels and restaurants reduce costs, minimize waste, and improve overall efficiency. The platform’s integrated AI-powered inventory software automates inventory tracking and replenishment while providing analytics and forecasting.

The platform currently works with hospitality players such as Taj Hotels, Oberoi Hotels, Accor Group and Barbeque Nation, among others.

Felicity Games has raised $700,000 (Rs 5.8 crore) in seed funding from DeVC, Visceral Capital along with angel investors Kunal Shah of Cred, former Nazara CEO Manish Agarwal, Sriharsha Majety, Nandan Reddy of Pwiggy and Sameaer. Google Cloud (APAC) among others.

The company, which has launched about 10 game titles, will use this capital to test 10 more games until March 2025. Also, according to his statement, he plans to increase his income 10 times by the end of this year.

Felicity was founded in 2023 by Anurag Choudhary, a former CEO of Swiggy. In less than a year, Felicity has launched more than 10 titles, which it claims are played by more than one million monthly users across 14 geographies.

Some of its notable game titles include Seek & Find and Nova Solitaire.

Helium has raised around $550,000 (Rs 4.52 crore) in a seed round of funding led by early-stage venture capital firm Merck Ventures. This round also saw the participation of angel investor Alok Mittal.

Founded by Shray Arora, Sidharth Sahni and Deepak Kapoor, Helium works with brands in fashion and consumer technology to create smart collections and product landing pages. Using artificial intelligence (AI), Helium tags each product and user interface (UI) element and understands their context through anonymous behavioral interactions of visitors.

This allows Helium to tailor a mix of content, copy and product for each visitor, leading to improved brand affinity and conversions.
The new funding will be used strategically to hire talent and develop Helium products.

The company plans to expand its presence across geographies, particularly focusing on the North American market.