VRO Hospitality raises $10 mn to expand

Bengaluru-headquartered VRO Hospitality, which operates 42 lounges and bars in the country, has raised $10 million in a bridge funding round led by Axis Bank and venture capital firm Gruhas, which is backed by Zerodha co-founder Nikhil Kamath.

- Gaurav Laghate

The round includes a mix of equity and debt, and the company will use the funds to make acquisitions and expand its portfolio of brands, which currently number 10 and include Mirage, Taki Taki, and Los Cavos.

NB Ventures, Cred founder Kunal Shah, and actress Mouni Roy also participated in the funding round.

"This funding round marks a pivotal moment for us, empowering our efforts to redefine the hospitality experience through innovation and unwavering commitment to excellence," said Dawn Thomas, co-founder and CEO of VRO Hospitality, who started the firm in September 2020, after selling his events company SteppinOut to DineOut, a Times Internet company that was subsequently acquired by food-ordering platform Swiggy.