Companies

Hello Curry to raise Rs 50 cr for expansion

K V Kurmanath Hyderabad | Updated on April 28, 2015 Published on April 28, 2015

Acquires Paratha Post to facilitate expansion in North





Hello Curry, a fast food chain that delivers Indian food in 30 minutes is going to raise Rs 50 crore for its expansion plans. The firm is in the process of finalising the plan for fund raising and also the expansion plan.

The one-year-old start-up, backed by a technology solution to streamline processes and orders, has acquired Paratha Post, a similar business that focuses on paratha deliveries, for an undisclosed consideration.

“It is a part case-part stock deal,” Raju Bhupathy, Chief Executive Officer of Hello Curry, has said.

Announcing the deal here on Tuesday, he said the deal would help the firm in its expansion to the North that savours parathas. “Paratha Post serves 55 varieties of paratha. We are going to open three units in Delhi soon. Paratha specialisation fits well with our business strategy as Hello Curry specialises in other major food varieties,” he said.

Mukesh Lamba, founder-Chief Executive Officer of Paratha Post, will come on the board of Hello Curry. Founded by Mukesh and Rituraj, both IIM graduates, in 2013, Paratha Post sold three lakh parathas last year in 60,000 delivery transactions last year.

Founded by Raju Bhupati and Sandeep Penumatsa, Hello Curry got a funding of Rs 3 crore from Sashi Reddi’s SRI Capital.

Raju Bhupati headed testing business of CSC after it acquired Sashi Reddi-promoted AppLabs for about Rs 1,200 crore. Sashi Reddi set up an investment with a corpus of Rs 100 crore to invest in early stage firms with tech-based businesses.

“We have just expanded to Bangalore where we will have three units in the next two months. In Hyderabad, the number of outlets would go to 8 from five soon,” Raju Bhupati said.

Published on April 28, 2015
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