Bangalore: Mast Kalandar, a Bangalore based Quick Service Restaurant (QSR) has raised $6 million from Helion Ventures and Footprint Ventures. This restaurant which serves only vegetarian delicacies is managed and run by Spring Leaf Retail Private Limited.

The restaurant chain plans to utilize the raised funds to expand its operations from 40 to 100 by the next year across 8 cities. Gaurav Jain and Pallavi Gupta is the CEO and COO of this restaurant chain respectively, reports dealcurry.

Helion Ventures did most of the funding by investing $5 million while Footprint Ventures induced the remaining part of the funding. The third round of funding has quite increased the figures and the total equity capital raised by Mast Kalandar records up to $11 million.

Mast Kalandar is picking up pace and growing its branches and has over 40 outlets in Bangalore, Hyderabad, Chennai and Pune. It serves over 2 lakh customers every month and has around 550 employees in its belt.

The food and beverage sector received around $256 million of funding in the previous year. "In most retail models, including quick service, time and effort is needed to perfect the basic unit model” says Kanwaljit Singh, senior managing director at Helion Venture Partners, to who invested in Mast Kalandar in 2010, as said to the EconomicTimes.