Biryani By Kilo Raises $9M, HealthKart Secures $153M for Nutrition Growth

Biryani By Kilo Raises $9M, HealthKart Secures $153M in Secondary Funding

Two leading startups, Biryani By Kilo (BBK) and HealthKart, have raised substantial funding to expand their businesses in cloud kitchens and nutrition, respectively.

Biryani By Kilo Secures $9M in Series C Round

Biryani By Kilo raised $9 million (₹72 crore) in its Series C funding round led by Alpha Wave Ventures. Other participants include Ivycap Ventures, Incred Wealth, and Clear Bridge Ventures, among others.

The funding will help BBK:

• Expand operations and enhance its cloud kitchen capabilities.
• Compete with Rebel Foods’ Behrouz Biryani and Biryani Blues in the growing cloud kitchen market.

Key highlights:

• BBK has raised $55 million to date, including a $35 million Series B led by Falcon Edge in 2021.
• FY23 revenue reached ₹300 crore, with the company expecting to break even in FY24.

BBK’s valuation is estimated at ₹840 crore ($105 million), solidifying its position as a leader in the Indian cloud kitchen space.

HealthKart Raises $153M in Secondary Funding

HealthKart, a nutrition-focused platform, raised $153 million in a secondary funding round led by ChrysCapital and Motilal Oswal Alternates. Neo Group and A91 Partners also participated.

The funding round, valued at $500 million, included a ₹55 crore ESOP buyback, benefiting current and former employees.

Founded by Sameer Maheshwari, HealthKart operates digital-first brands like MuscleBlaze, HK Vitals, and Gritzo, catering to segments like proteins, dietary supplements, and kids’ nutrition. It also operates 200+ stores across 90+ cities in India.

Key achievements:

• FY24 revenue surpassed ₹1,000 crore, with EBITDA profitability.
• FY23 revenue grew by 69.5% to ₹832.48 crore, while losses reduced by half to ₹164.71 crore.

The Indian sports nutrition market, valued at $2 billion, is expected to grow significantly with rising awareness of fitness and protein consumption.