VRO Hospitality, one of the leading food and beverage chains, has raised $10 million (approximately Rs 83 crore) in a bridge funding round through equity and debt. The round was led by Axis Bank and Nikhil Kamath-backed VC firm Gruhas, with participation from other investors including NB Ventures, Kunal Shah (Cred), and actress Mouni Roy.
VRO Hospitality is one of the fastest-growing F&B startups in India, with over 27 outlets across all major cities like Bengaluru, Chennai, Cochin, Mumbai, and Hyderabad. It operates multi-format restaurants, cafes, and lounges that target every type of demographic through various brands owned by the company, including some flagship brands like Mirage, Hangover, Plan B, Cafe Noir, Badmaash, Tycoons, etc.
The new investment will be used by the company to fuel further growth and expansion in India. It will also aid in operational growth, accelerate further product development, and strengthen its position as a key player in the industry.
The company’s co-founders are Dawn Thomas, Safdhar Adoor, and Sharath Rice, and it is headquartered in Bengaluru, Karnataka, India.