The infusion of capital from BanyanTree Growth Capital is poised to propel Angels into a new era, leveraging Nirula's national presence boasting 175+ outlets, thus ensuring that more locations across the country will soon be "touched by an Angel."
At present, the brand operates in India and Japan with 4 roasteries, over 80 physical outlets across major Indian cities and regions including Delhi NCR, Mumbai, Bangalore, Hyderabad, Kolkata, Chandigarh, Mohali and Pune.
This investment by Curefoods will primarily be utilized for the expansion of Millet Express, allowing the brand to reach a wider audience and meet the growing demand for millet-based products.
The capital will be used to increase the brand’s depth in existing markets while helping the business expand the honey and bee-keeping focussed brand, Moonshine Honey Project.
The burger brand is planning geographical expansion, reinforcing its supply chain, and further refining its dining and quick service models in the next 12 months.
The company also plans to invest in efficiency management systems, including enterprise resource planning (ERP) software to strengthen their business operation and support its projected growth.
The brand that got featured in Shark Tank India will use the funds to expand its production capacity, venture into new markets, and fulfil its working capital requirements.