Spice Lounge, the leading master franchise of Buffalo Wild Wings, a renowned American sports bar franchise, has successfully raised $1 million in funding led by Klub. The infusion of capital is earmarked for store financing and a strategic expansion initiative, as announced in a recent press release by Spice Lounge.
With an ambitious vision to transition into a quick-service restaurant (QSR) model in 2024, Spice Lounge sets its sights on achieving a revenue milestone of Rs 150 crore by the end of the fiscal year 2025. Notably, the brand served as the official club partner of Sunrisers Hyderabad during the IPL seasons of 2022 and 2023.
In a recent development, Spice Lounge inaugurated two new outlets, including its latest venture in South Bangalore at the Falcon City Mall. Building on this momentum, the franchise plans to open 25 additional outlets across India in 2024, targeting key regions such as Tamil Nadu, Kerala, Goa, Maharashtra, and Delhi NCR.
Buffalo Wild Wings operates eight outlets in India, strategically located in Hyderabad and Bengaluru. The infusion of $1 million from Klub is expected to fuel the brand’s growth strategy and solidify its presence in the Indian market.
Klub, known for providing digital businesses with rapid and flexible capital solutions without the need for equity dilution, played a pivotal role in this funding round. Since its inception, Klub claims to have funded over 300 brands through more than 600 investment rounds, further underlining its commitment to supporting entrepreneurial ventures.
The partnership between Spice Lounge and Klub marks a significant milestone for both entities, laying the foundation for Spice Lounge’s expansion journey and showcasing Klub’s continued dedication to empowering innovative businesses through strategic financial support. As Spice Lounge charts its course towards a QSR model and a robust national presence, the collaboration with Klub is poised to catalyze the brand’s growth trajectory in the competitive Indian restaurant industry.
