Investment of Digital Hungama Boosts Jumboking Foods

JumboKing Store
Preeti Bali / 11:18 am / April 4, 2024

Ashish Kacholia, former co-founder of Digital Hungama, has acquired an 18% stake in Jumboking Foods Private Limited through his investment firm, Fortunate Securities. This significant investment, conducted through a secondary transaction, marks a pivotal moment for Jumboking as it embarks on an ambitious expansion journey.

Fueling Strategic Growth

While the exact financial details of the transaction remain undisclosed, the influx of capital is set to propel Jumboking’s strategic growth initiatives. The Mumbai-based burger chain has affirmed its commitment to utilizing the investment for sustainable expansion, with a target of reaching 1,000 stores. Additionally, the company aims to double its turnover within the next two years, focusing on bolstering its presence in Delhi and Hyderabad, and entering the Bengaluru market later this year.


Distinguishing Features in the QSR Market

Jumboking, currently positioned as India’s third-largest burger chain, stands out in the competitive Quick Service Restaurant (QSR) landscape with its vegetarian-focused menu, offering a variety of burgers, thick shakes, softies, and fries. With over 170 stores across Mumbai, Delhi, Hyderabad, and Pune, the brand has garnered significant attention, especially among college students and young professionals.


Enthusiastic Partnership

In a statement released on Wednesday, Ashish Kacholia expressed his enthusiasm about the collaboration, emphasizing Jumboking’s commitment to top-class execution and exceptional customer service. Founder of Jumboking, Dheeraj Gupta, echoed this sentiment, welcoming Kacholia aboard and highlighting his investment as a significant validation of Jumboking’s growth trajectory.


Solidifying Market Presence

Exiting investor Pradyumna Dalmia of Triton Fund reflected on the journey thus far, expressing pride in being part of the Jumboking story and confidence in the incoming investors’ prospects for great returns. With reported revenue of Rs 110 crore for the fiscal year 2023-24, Jumboking is well-positioned to leverage this strategic partnership to further cement its market presence and capitalize on the growing demand for quality fast-food offerings across India.

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