Mast Kalandar, a North Indian quick service restaurant (QSR) chain by Spring Leaf Retail, has secured investment from Helion Venture Partners, and Footprint Ventures, an early stage venture capital fund. The investment made in Mast Kalandar will be directed towards promoting and scaling up its operations in India.
Currently, Mast Kalandar operates 18 outlets in Bangalore, Chennai and Hyderabad. The company plans to set up 100 QSRs nationally by 2012.
Pallavi Gupta, COO, Mast Kalandar, said, "We are really looking forward to the association with Helion as we believe that Helion can add great value to the business’s long term strategic planning, given their experience in this space."
Kanwaljit Singh, MD, Helion Advisors, said, "We are very excited to be a part of Mast Kalandar’s growth story. Mast Kalandar is ideally placed to become a leader with their unique combination of healthy Indian food and the QSR format."
"Footprint Ventures is delighted to be the first institutional Investor to back the Mast Kalandar management team with the vision and experience to become a substantial Quick Service Restaurant chain," said Linda Brownstein, partner, Footprint Ventures.
– IndiaRetailing Bureau
