Paris Panini Parent Popo Global Raises ₹532 Cr From Artal Asia

Bengaluru-based Popo Global, a restaurant chain that specializes in gourmet food brands like The Pizza Bakery, Paris Panini, and Smash Guys, has recently secured a substantial investment of ₹532 Cr ($56 Mn) from Artal Asia. The details of Popo Global's valuation and Artal Asia's share in this investment were not disclosed. Established in 2017 by Nikhil Gupta and Abhijit "AB" Gupta, Popo Global began as The Pizza Bakery, and subsequently added Paris Panini to its lineup, followed by Smash Guys. The company currently runs 41 outlets in Bengaluru.

This new funding will allow Popo Global to venture beyond Bengaluru and broaden its reach across India. The company's business model is a unique blend of quick-service restaurants, fine dining experience, and the scalability of delivery kitchens. It focuses on core products, dine-in and delivery channels, standardized processes, and strategic restaurant real estate selection.

Popo Global reported robust same-store sales growth, high repeat rates, and favorable unit economics prior to this investment, though specific numbers were not provided.

Before this transaction, Popo Global largely relied on internal resources to expand in Bengaluru. The cofounders expressed that with Artal Asia's involvement, they aim to expand their horizons while preserving the core values that brought them this far – uncompromised quality. Artal Asia, an affiliate of the global investment firm Artal Group, also has a diverse portfolio in India, including Capital Foods (later purchased by Tata Consumer Products), Burger Singh, and Jumbotail.

This investment follows a trend of growing investor interest in Indian restaurant and food brands that plan to expand their physical footprint and tap into new markets. Other recent examples include Dil Foods, a foodtech startup that raised ₹72 Cr to expand its reach and introduce more cuisine options, and Alienkind, a cafe chain aimed at Gen Z, which secured $3.2 Mn in June to support its expansion.

Additionally, Bengaluru-based bubble tea and quick-service restaurant brand Boba Bhai recently raised ₹40 Cr to broaden its offline presence.