Spice Lounge, the master franchise of Buffalo Wild Wings which is an American sports bar franchise, has secured the funding of $1 million led by Klub.
The proceeds will be allocated towards store financing and expansion, Spice Lounge said in a press release.
Spice Lounge aims to expand to a quick service restaurant (QSR) model in 2024 and projects a revenue of Rs 150 crore by the end of FY25. The brand was also the official club partner of Sunrisers Hyderabad in the IPL season 2022 and 2023.
The company also inaugurated two new outlets, including its latest venture nestled in South Bangalore at the Falcon City Mall. Now, the franchisee plans to open 25 outlets in India in 2024 in Tamil Nadu, Kerala, Goa, Maharashtra, and Delhi NCR.
Currently, there are 8 outlets of Buffalo Wild Wings in India across Hyderabad and Bengaluru.
Klub provides digital businesses with fast and flexible capital without having to dilute equity. Since its inception, it claims to have funded over 300 brands in over 600 investment rounds.