Funding · Commerce & Consumer Brands

Popo Global raises INR 532 crore from Artal Asia

By Startup Enthusiast · 11 September 2026

What they do

Popo Global operates a portfolio of casual dining and quick-service restaurant brands including The Pizza Bakery, Paris Panini, and Smash Guys

The company secured INR 532 crore in its first external funding round led by Artal Asia for a minority stake

The Bengaluru-based firm, which operates 40 company-owned outlets, plans to use the capital to expand its restaurant footprint across India

Popo Global raised INR 532 crore in its first external funding round from Artal Asia.
The investment provides the investor with a minority stake in the restaurant operator.
The company previously operated as a bootstrapped business since its inception in 2017.
The Rainmaker Group served as the exclusive financial adviser for this transaction.
Invus acted as the global investment adviser to Artal Asia during the deal process.
The company intends to use the funds to scale its F&B brand portfolio and expand its restaurant footprint nationwide.

This marks the first time the company has raised institutional capital after years of self-funding.
The company achieved profitability in the 2025 fiscal year with revenue reaching approximately INR 175 crore.
The deal follows earlier reported discussions with the Invus Group regarding a potential investment.

Popo Global manages three distinct brands: The Pizza Bakery, Paris Panini, and Smash Guys.
The company operates in both the casual dining and quick-service restaurant (QSR) segments.
It currently maintains a network of approximately 40 outlets located in Bengaluru.
The business model relies exclusively on company-owned outlets rather than a franchise system.
The company reported revenue of roughly INR 175 crore for the fiscal year 2025.

Artal Asia (lead) — An affiliate of Artal Group with previous investments in Capital Foods.