Popo Global raises ₹532 crore from Artal Asia to expand restaurant network

Bengaluru-based Popo Global has raised ₹532 crore from Artal Asia to grow company-owned outlets across India for The Pizza Bakery, Paris Panini and Smash Guys. The profitable operator reported about ₹175 crore in FY25 revenue.

— Source publishedFri, 11 Sept, 2026, 10:10 IST·First seen Fri, 11 Sept, 2026, 10:10 IST·Source Entrackr · Newsletter

What happened

Bengaluru-based Popo Global raised Rs 532 crore from Artal Asia to expand company-owned restaurant outlets across India and scale The Pizza Bakery, Paris Panini

Key facts

  • Rs 532 crore raised from Artal Asia
  • Rs 500 crore previously reported funding talks
  • Rs 1,100 crore to Rs 1,350 crore proposed valuation
  • Rs 175 crore FY25 revenue
  • Founded in 2017

What changed

Bengaluru-based Popo Global raised Rs 532 crore from Artal Asia to expand company-owned restaurant outlets across India and scale The Pizza Bakery, Paris Panini and Smash Guys. The profitable operator reported around Rs 175 crore revenue in FY25.

Why this matters

Popo Global’s ₹532 crore raise gives its profitable multi-brand platform the capital to accelerate company-owned outlet expansion across India.

What to watch

  • Number of net new company-owned outlets opened each quarter versus any stated rollout target.
  • City mix of expansion, especially entry into Mumbai, Delhi NCR, Hyderabad, Chennai, Pune and affluent tier-2 markets.
  • Revenue growth, EBITDA margin, store-level contribution and cash burn after expansion begins.
  • Same-store sales trends at existing Pizza Bakery, Paris Panini and Smash Guys outlets.
  • Lease commitments, central-kitchen capex and employee-cost growth relative to sales.

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