US private equity company Siguler Guff has invested Rs3.8bn ($40m) in multi-brand restaurant operator Trimex Foods, reported Press Trust of India (PTI).

The move marks Trimex's first institutional capital raising.

The funding is intended to support a faster rollout of its current brands across India and to facilitate the onboarding of new overseas concepts.

Siguler Guff partner and co-portfolio manager Shaun Khubchandani was quoted as saying: “India's food services sector is undergoing a structural shift as consumers increasingly gravitate toward globally recognised dining experiences.”

Founded in 2010, Trimex operates more than 50 restaurants and bakery-cafes across 13 cities in India.

The company operates and represents brands such as Chili’s Grill & Bar, Cinnabon, and PAUL, and employs around 1,800 people.

Commenting on the fundraising round, a Trimex Foods spokesperson said: "Siguler Guff's global expertise and their track record of partnering with consumer businesses in emerging markets make them a great partner for our next phase of growth."

For FY24–FY25, Trimex reported “strong financial performance”. The company aims to expand its network to more than 200 outlets by 2030.