Mumbai-based restaurant chain House of Biryan raises $2 million

Mumbai-based restaurant chain House of Biryan has raised $2 million in a funding round led by Al Siraj Holdings, a Middle Eastern family office, Angel Star Ventures, a US-based fund from Pennsylvania, and various high-net-worth individuals from the United States.

The latest investment brings HOB's all-time raise to $3 million.

Who are the founders?

Founded in 2022 by chefs Mikhail Shahani and Mohammed Bhol, House of Biryan specializes in biryani and other Mughlai and North Indian cuisines.

Initially starting with two cloud kitchens, the restaurant chain has rapidly expanded to 12 kitchens across Mumbai and Delhi, with plans to expand to 30.

"Our success lies in keeping things simple by delivering a yummy and addictive biryani within 30 minutes," Bhol said.

Expanding presence

House of Biryan will use the raised capital to scale the business. The Mumbai-based startup aims to achieve an annual revenue run rate of Rs 100 crore by December 2025.

The brand's growth strategy focuses on deepening its offering within its core cuisine categories rather than diversifying into multiple brands.

The chain currently serves about 40,000 orders a month, with order sizes averaging between Rs 700 and Rs 800. It plans to deepen its offerings in biryani, kebabs, and other Mughlai dishes rather than expand into multiple cuisine brands.

Aiming to achieve profitability 

House of Biryan currently has a 2% annual operating loss but aims to achieve single-digit profitability by December 2024. 

The startup's current annual revenue run rate stands at Rs 25 crore across six businesses.

"I participated in a personal capacity in their previous round and worked closely to witness the consumer love, along with solid unit economics. This got us excited to participate with Mohammed and Mikhail, making House of Biryan our first formal bet on India's growth story," said Abhineet Singh, Chief Investment Officer at Al Siraj Holdings.