Banaraswala raises $2 million from Prax Impex to take the taste of Banaras beyond the Ghats

Banaraswala, Ghat se Ghar Tak, known for its Banarsi cuisine, has raised $2 million in Seed funding from Prax Impex.

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The brand will use the raised capital to enter new markets, innovate its menu and grow through franchises as it looks to take the flavours and food culture of Banaras to the masses.

Founded by Vibhanshu Mishra, Banaraswala focuses on traditional Banarasi cuisine while incorporating elements such as kulhads, pattal and clay utensils into its dining experience.

The company currently operates three outlets in Delhi and plans to expand to Banswara in Rajasthan, Sarangpur in Gujarat, and Farrukhabad and Fatehpur in Uttar Pradesh during October and November. Banaraswala also offers its products through food delivery platforms.

The fresh capital will support the company’s expansion in the quick-service restaurant (QSR) segment and Banarasi molecular cuisine, alongside menu development and entry into additional markets.

Banaraswala aims to operate 50 outlets across Rajasthan, Uttar Pradesh, Delhi-NCR and other Tier 2 markets by March 2027.

It also plans to strengthen operations at its existing locations while expanding its network through a combination of company-owned and franchise outlets.

Vibhanshu Mishra, Founder, Banaraswala, said, “Scaling Banaraswala is, at the same time, an effort to expand our presence and build trust in the initial ethos of the brand. The challenges faced by us have brought valuable lessons. This phase is a comeback, which has a renewed sense of purpose with a clear intent on moving ahead. We seek to take the flavours and recipes of Banaras to an untapped marketplace without deviating from their authentic nature. This investment will lead us to a strong foundation in terms of products and outlets, people and processes.”

Rajnandini, Shareholder, Prax Impex Private Limited, said, “What stood out to us about Banaraswala was the opportunity to build a modern food brand around something that already has deep cultural relevance. Vibhanshu has an impressive understanding of numbers and the market, and we believe the brand can move beyond being a regional food business to becoming a recognisable Indian food brand. Our investment is aimed at supporting that transition and the scale that comes with it. We are very confident about our association with Banaraswala and certain about the successful business.”