Indian Angel Network today announced an undisclosed investment in Poncho, a Mumbai based Mexican quick service restaurant. IAN investor Kaushal Aggarwal led the deal and investors like Saurabh Srivastava have invested in this round in Poncho.
Indian Angel Network today announced an undisclosed investment in Poncho, a Mumbai based Mexican quick service restaurant. IAN investor Kaushal Aggarwal led the deal and investors like Saurabh Srivastava have invested in this round in Poncho.
Considering that quick service restaurants (QSR) have shown a sharp annual growth rate, Amit Raj and Anshul Gupta founded Poncho in August 2011. Poncho offers fresh, healthy & filling Mexican Food at value for money prices.
IAN’s investment will enable Poncho to scale up by opening new outlets, strengthening the backend operations and ramping up the core team. To enhance their reach, they are opening outlets in areas with high concentration of offices. They have already opened 6 outlets since their inception and should reach 15 by the end of this year.
Kaushal Aggarwal, an IAN member and co-founder & Managing Director, Avendus Capital said, “Food and Beverage space has lately gained a lot of attention from the investors. Exclusive services and products are being offered by the start-ups in this sector. We are impressed with the uniqueness of Poncho’s concept and offerings which makes it different from other players in this category. Amit and Anshul are an exceptional team and the passion they bring along is exactly what convinced me about Poncho. ”
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