Tava Indian Kitchen closed a $4.5 million deal securing capital to expand the fast-casual chain’s management team and grow into new markets, the chain announced Thursday.
The round of investment was led by the CircleUp Growth Fund, Kensington Capital, Agilic Capital and HiGrowth Advisors, the investment fund of former Smashburger CEO David Prokupek. Prokupek also joined Tava’s board of directors as part of the deal.
“With this new capital fusion and expansion of our board, we have a real opportunity to take a leadership role in growing the fast-casual Indian food category,” said Tava CEO Jeremy Morgan, who last year joined the Indian chain after serving as SVP of marketing and consumer insights at Smashburger. “We are excited to expand our footprint across the Bay Area this year and look forward to entering new markets beginning in 2016.”
Bay Area-based Tava, which was founded in 2011, offers customizable Indian cuisine at its three California locations. Customers choose from a roti wrap, rice bowl or salad bowl, which they can top with their pick of protein and vegetables, and a selection of sauces and chutneys.
Members help make our journalism possible. Become a Restaurant Business member today and unlock exclusive benefits, including unlimited access to all of our content. Sign up here.