California Burrito Secures Rs 120 Crore in Power-Packed Funding Round to Fuel Explosive Growth

California Burrito, a beloved name in India's Quick Service Restaurant (QSR) scene, has successfully closed a Series B funding round, raising a substantial Rs 120 crore (approximately $14.4 million). This significant investment, spearheaded by Elevation Capital and with continued participation from IIFL Asset Management, marks a pivotal moment for the brand as it gears up for an ambitious expansion across the nation.

This latest infusion of capital brings California Burrito's total funding to an impressive Rs 210 crore, empowering the company to aggressively scale its operations.

The funds are earmarked for a multi-pronged growth strategy, including expanding its physical footprint, strengthening its robust supply chain, investing in cutting-edge technology, and attracting top-tier talent to drive innovation and efficiency.

Since its inception in 2011 by Goldman Sachs colleagues Saurabh Ratra, Gaelan Draper, and Ranbir Mukherjee, California Burrito has carved a unique niche in the Indian food landscape.

Starting with a single outlet in Bangalore, the brand quickly distinguished itself by offering fresh, healthy, and customizable Mexican-inspired cuisine, captivating the palates of a burgeoning urban population seeking quick yet wholesome meal options.

Today, California Burrito boasts a formidable presence with over 75 stores spread across 13 major cities.

The company has laid out an ambitious roadmap to significantly multiply this presence, aiming to establish 250 outlets in 25 cities within the next five years. This strategic expansion is set to capitalize on India's booming QSR market, which is projected to reach an astounding $48 billion by 2027, driven by evolving consumer lifestyles and increasing disposable incomes.

Elevation Capital, a leading venture capital firm, expressed immense confidence in California Burrito's potential.

Mridul Arora, Partner at Elevation Capital, lauded the brand's ability to offer an authentic yet localized product, citing its strong customer loyalty and robust store economics as key indicators of future success. Arora emphasized the vast opportunities within India's QSR sector, highlighting California Burrito as a frontrunner poised for substantial growth.

The brand's success comes amidst a competitive landscape, where it stands shoulder-to-shoulder with both established global giants like Taco Bell and a growing array of indigenous QSR players.

California Burrito's continued focus on quality ingredients, customizable menus, and a customer-first approach has clearly resonated, enabling it to not only compete but thrive and expand its footprint across the diverse Indian market.

With this fresh injection of capital and a clear vision for the future, California Burrito is well-positioned to cement its status as a leader in India's fast-growing casual dining and QSR segment, bringing its signature blend of fresh, flavorful Mexican-inspired food to even more customers nationwide.