If you have stood in a queue for a table at The Pizza Bakery in Bengaluru, you already know the brand. Popo Global, the company behind it, has just raised Rs 532 crore, or about $56 million, from investment firm Artal Asia. The Bengaluru-based restaurant company runs The Pizza Bakery, Paris Panini and Smash Guys, and will use the money to expand its footprint across India and scale its food and beverage brands.
Three brands, one kitchen playbook
Popo Global started in 2017 in Bengaluru with The Pizza Bakery, founded by brothers Abhijit Gupta and Nikhil Gupta. From there, the company added Paris Panini for the sandwich and cafe crowd, and Smash Guys for the burger and quick service segment. Each brand targets a slightly different diner, but they run on the same back-end.
No franchise, everything company-owned
Here is the part that makes Popo Global different from most Indian restaurant chains. The company does not hand out franchises. Every outlet is owned and run by the company itself, which gives it tighter control over food quality and service, though it also means each new outlet has to be funded from its own pocket.
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Moneycontrol had earlier reported that Popo Global was in talks with global private equity firm Invus Group to raise around Rs 500 crore for a minority stake, in a deal that was expected to value the company at roughly Rs 1,100 crore to Rs 1,350 crore. The final deal has now landed with Artal Asia.
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What the money will do
The capital is earmarked for new outlets across the casual dining and quick service restaurant segments, and for building the company’s brand portfolio further. Popo Global reported revenue of around Rs 175 crore in FY25 and stayed profitable during the year, according to Moneycontrol. In a sector where many restaurant chains bleed while scaling, that combination of growth and profit is what drew a cheque of this size.
Why it matters
India’s eating out market is growing, but restaurant businesses are famously hard to run. Rents rise, food costs move, staff churn is constant, and customers are quick to move to the next new place. Popo Global’s bet is that owning its outlets rather than franchising them gives it a brand people trust enough to return to. With Rs 532 crore in hand, that bet now has real money behind it.