Good Flippin’ Burgers Raises Funding in India’s Burger QSR Market

Quick-service burger chain Good Flippin’ Burgers is poised to secure new funding after a hiatus of two and a half years. Delhi-based S.R. Foundation is investing Rs 55 crore at a 20% premium on valuation. In accordance with the company’s regulatory filings with the Registrar of Companies, the board has approved a special resolution to issue 58,668 Compulsorily Convertible Preference Shares at an issue price of Rs 9,374.77 per share to raise new capital from S.R. Foundation.

Managed by corporate trustee Rajiv Kumar Gupta, S.R. Foundation functions as a back-end investment vehicle and a public charitable trust associated with the DS Group promoter network. In April 2024, the Mumbai-based entity previously raised Rs 30 crore (around $3.6 million) in an extended Series A round from existing investor Tanglin Venture Partners.

According to estimates from Startup Superb, the company’s valuation is set to increase to approximately Rs 481 crore in the Series B, up from Rs 400 crore in the extended Series A round, where its valuation had skyrocketed three-fold.

Good Flippin’ Burgers plans to utilise this new capital for its growth, expansion, and general corporate needs, as stated in their filings. The chain, which operates burger restaurants across India, was launched in Mumbai in 2019 and currently boasts 67 outlets in cities such as Mumbai, Delhi NCR, Pune, Bengaluru, Hyderabad, and Chennai.

The QSR chain startup has yet to report its FY26 financial results. Between FY23 and FY25, its revenue experienced significant growth, increasing more than 3.4 times to Rs 111 crore in FY25 from Rs 32.5 crore in FY23. Meanwhile, losses escalated nearly 4.7 times, rising to Rs 18.32 crore from Rs 3.91 crore during the same timeframe.

Good Flippin’ Burgers competes in India’s burger QSR market against venture capital-backed homegrown chains such as Burger Singh and Biggies Burger, as well as regional players like Jumboking and The Burger Company, along with cloud-kitchen innovator Burgerama, among others.