Bengaluru-based restaurant company Popo Global, which operates The Pizza Bakery, Paris Panini and Smash Guys, has secured an investment of ₹532 crore from global investment firm Artal Asia. The funding gives Artal Asia a significant minority stake in the company and will support Popo Global’s expansion beyond Bengaluru.
The transaction represents Popo Global’s first external institutional funding round. Since its establishment, the company has largely financed its growth internally, making the deal an important turning point in its journey from a single restaurant to a multi-brand food business.
Popo Global was founded in 2017 by brothers Nikhil Gupta and Abhijit “AB” Gupta. The business began with one outlet of The Pizza Bakery in Bengaluru and has since expanded to around 40 outlets across its three brands.
The Pizza Bakery is positioned around artisanal pizzas and a premium casual-dining experience. Paris Panini offers French-style sandwiches and European-inspired meals, while Smash Guys operates in the burger and quick-service segment. Together, the brands allow Popo Global to participate in different parts of India’s growing organised food-service market.
The company operates through dine-in restaurants, delivery outlets and cloud-kitchen formats. It has focused mainly on company-owned operations instead of depending heavily on franchising. This approach provides greater control over food quality, customer experience and operational processes, although it can also require more capital when entering new markets.
Popo Global said the partnership with Artal Asia would enable it to think on a considerably larger scale without compromising its focus on product quality. The company plans to use the investment to take its restaurant brands beyond Bengaluru and develop a wider national food and beverage platform. However, it has not disclosed its target cities, proposed number of outlets or detailed expansion schedule.
The valuation and exact structure of the transaction were also not officially revealed. Different media reports have estimated Popo Global’s valuation at approximately ₹1,250 crore to ₹1,500 crore following the investment.
Artal Asia is affiliated with Artal Group, whose international food-service portfolio includes CAVA, a Mediterranean fast-casual restaurant chain listed in the United States. In India, the group previously invested in Capital Foods, the owner of brands such as Ching’s Secret and Smith & Jones. Capital Foods was acquired by Tata Consumer Products in 2024 in a deal valued at ₹5,200 crore.
Lee Swee Yin, director at Artal Asia, said the investment firm’s mission was to support exceptional entrepreneurs seeking to transform their industries. She added that Artal Asia was pleased to help Popo Global maintain its focus on customers and products while operating at a larger scale.
The Rainmaker Group acted as the exclusive financial adviser to Popo Global, while Invus served as Artal Asia’s global investment adviser.
The investment reflects growing institutional interest in Indian restaurant companies that combine premium food, scalable operations and multiple service formats. For Popo Global, the immediate challenge will be to replicate the customer loyalty and operating model developed in Bengaluru while entering new cities without weakening the quality on which its brands have been built.