Bengaluru-based food and restaurant company Popo Global has raised Rs 532 crore from global investment firm Artal Asia for a significant minority stake. 

The company operates popular brands including The Pizza Bakery, Paris Panini and Smash Guys. The fresh capital will support its expansion beyond Bengaluru and help the company strengthen its presence across India.

Founded in 2017 by brothers Abhijit Gupta and Nikhil Gupta, Popo Global started with The Pizza Bakery in Bengaluru. It later expanded its portfolio by launching Paris Panini and Smash Guys, creating a multi-brand food business covering casual dining, quick-service restaurants and delivery-led formats.

The company has largely funded its growth internally and has now raised external capital for the first time. Popo Global operates through a company-owned and company-operated model instead of depending on franchise partners. This allows it to maintain direct control over food quality, customer experience and restaurant operations.

The investment comes as Popo Global looks to expand into new markets across India. The company has built a network of around 40 outlets, with Bengaluru remaining its primary market. It generated around Rs 175 crore in revenue during FY25 and remained profitable during the year, according to industry reports.

While the company has not officially disclosed its valuation or the exact stake sold, earlier reports had indicated that the transaction could value Popo Global between Rs 1,100 crore and Rs 1,350 crore. Some reports have also put the company’s valuation at around Rs 1,500 crore following the latest investment.

Artal Asia is part of the global investment network linked to Artal Group and has experience backing food and consumer businesses. Its portfolio includes US fast-casual brand CAVA and Indian businesses such as Capital Foods. The investment gives Popo Global access to capital and the investor’s experience in scaling food brands.

The funding marks an important step for Popo Global as it aims to take its Bengaluru-born restaurant brands to a wider Indian audience.

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