Starbird Chicken has raised $4 million in funding, the largest equity fundraising round from current investors and industry insiders, the four-year-old brand announced Wednesday.
“This landmark financing reflects the industry’s belief in our vision that we’ve had for Starbird since day one - that the fast food landscape was primed for an upgrade in quality and convenience in user experience through menu items designed with customers’ evolving tastes in mind and a modern technology platform.” CEO Aaron Noveshen said in a statement.
The self-proclaimed “super-premium fast-food” concept was created in 2016 by Noveshen, also the founder of San Francisco-based consultancy The Culinary Edge. The emerging brand plans to have nine locations open in the Bay Area by the first quarter of 2021. The San Francisco-based concept recently opened a cloud kitchen in Oakland, Calif.
The lead investor for the recent round is Greg Dollarhyde, founder of Dollarhyde Enterprise Group.
"I am extremely excited to have the opportunity to work with Aaron and his capable team in this phenomenal opportunity with their newly-evolving premium fast food offering,” he said in a statement. “It's timely, multi-faceted technology platform along with the positioning of this absolutely craveable food concept makes Starbird the concept to watch.”
Starbird’s fresh chicken offerings include sandwiches, salads, tacos, chicken tenders and wings. The company said its brick and mortar restaurants have performed well during the pandemic.
“Streetside restaurants have seen positive comparable store sales of up to 50% in the last six months, and have proven their leadership in the marketplace through strong top-line sales of more than $1,300 per foot,” the company said.
Starbird currently has seven locations with two more openings planned in 2021.
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