Mowgli Street Food, an Indian restaurant chain already based in Manchester and London, is planning a major expansion after securing £3.45m funding.
Founded by Nisha Katona in Liverpool in 2014, Mowgli is a chain of Indian street food restaurants with sites in Bold Street and Water Street in Liverpool and at the Corn Exchange in Manchester.
The funding will support the business’s roll-out of restaurants across the UK, including sites in Birmingham and Leeds later this year.
Nisha Katona said: ‘This is a significant milestone for Mowgli Street Food, which will enable us to deliver on our ambitious plans to grow our business across the UK.”
In addition to being a restaurant entrepreneur, Nisha is a food writer who has featured in The Daily Telegraph, The Sunday Times and The Independent. Her YouTube cooking channel has an international following and she also films for the BBC, ITV, Channel 4 and the Food Network.
The money for her next big step has come from Foresight Group, the independent infrastructure, private equity and investment manager, with the RSM M&A and private equity team, led by Rob Donaldson and Jill Jones in the North West, advising Nisha, who said: “I’m very grateful to RSM for their support. From the outset, their logical approach, straightforward advice and round-the-clock support proved invaluable.’
Rob Donaldson, RSM’s head of corporate finance who led the transaction team said: ‘In a competitive sector, Mowgli Street Food is a genuinely exciting brand and we were delighted to support Nisha to secure this funding. We wish her, and Mowgli Street Food, the very best of luck in delivering their ambitious growth plan.’
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