The Pizza Bakery operator will use the fresh capital to grow its company-owned restaurant network and scale its casual dining and quick-service brands across India.
Bengaluru-based restaurant company Popo Global, which operates The Pizza Bakery, Paris Panini and Smash Guys, has raised ₹532 crore, approximately $56 million, from investment firm Artal Asia. The fresh capital will support the company’s plans to expand its restaurant footprint across India and scale its growing portfolio of food and beverage brands.
Popo Global was founded by brothers Abhijit Gupta and Nikhil Gupta. The company began with The Pizza Bakery in Bengaluru in 2017 and has since expanded its presence while adding Paris Panini and Smash Guys to its portfolio.
The company operates across the casual dining and quick-service restaurant segments, with a focus on building company-owned outlets. Unlike a franchise-led model, Popo Global manages its restaurants directly, allowing it to retain greater control over operations, customer experience, product quality and execution across its network.
The latest investment will help the company strengthen this operating model as it expands into new markets. With multiple brands across different food formats, Popo Global is building a broader restaurant platform rather than relying on a single concept.
The Pizza Bakery forms the foundation of the group’s business. Its expansion has been followed by Paris Panini and Smash Guys, giving Popo Global exposure to different customer occasions and restaurant formats. The company’s multi-brand approach also allows it to explore varied price points, cuisines and consumption occasions across India’s evolving food-service market.
Details of the transaction were not disclosed. However, the fundraise follows earlier reports that Popo Global was in discussions with global private equity firm Invus Group to raise around ₹500 crore for a minority stake. The proposed transaction was expected to value the company at approximately ₹1,100–1,350 crore.
Popo Global reported revenue of around ₹175 crore in FY25 and remained profitable during the year. The latest capital infusion is expected to provide additional resources for restaurant expansion, brand development and operational scaling.
India’s organised food-service market continues to create opportunities for restaurant companies that can build recognisable brands and replicate operating models across cities. Popo Global’s direct ownership strategy gives it control over restaurant execution while allowing the company to retain the economics of its outlets.
With backing from Artal Asia, Popo Global is now positioned to accelerate its expansion and establish a larger presence across India’s casual dining and quick-service restaurant landscape.
Source: Based on publicly available reporting, with additional editorial adaptation and analysis.
