IMM, the operator of the Jamie Oliver restaurant chain in India, has secured £10m in its second round of fundraising.

Chief executive Jasper Reid told MCA that the funding would allow it to grow the Jamie Oliver brand from its current six-strong estate to c20. He said there was ultimately the potential for between 50 and 100 restaurants across the country. The primary rollout vehicle is the Jamie’s Pizzeria format but Reid said the Jamie’s Italian brand also offered scope, albeit through lower footprint sites. The group is looking at doing an all-veggie Jamie’s in Ahmedabad in Gujarat.

IMM also has the rights to operate Wendy’s in India, with four sites currently operating and a further six set to open before the end of the financial year.

Reid said there was huge scope for the brand along India’s bustling highway system. On the ultimate potential for Wendy’s in India, where IMM holds the licence for the next 25 years, he said: “We want to do 50 sites in the next three years, but that is really a stepping stone to 100, which is a stepping stone to a much larger number. Burger King have already done 150 sites in three years, so the market is there.”

IMM was founded in 2014 by Reid and a collective of executives who had experience helping brands break into international markets. In Reid’s case this included aiding PizzaExpress with its launch in both India and China.

Reid said the Indian casual dining market was still very nascent and very value driven, particularly in the QSR space. Wendy’s has an average spend per head of £1 and Reid said the brand was competing with the much more established McDonald’s on better food quality at the same price.

On the growth of the Jamie Oliver brands in the country he said: “The reason we wanted to go for the pizzeria offer is because we were keen to do much smaller sites. Jamie’s Italians are 200-300 covers and in a market like India that’s way too large. Pizzeria allowed us to scale down but we have since managed to shrink Jamie’s Italian to a 68-cover format.”

Reid said that the IMM was not actively looking to add further partners but said he was interested in broadening the scope of what the company offered in India.

He said: “There are huge opportunities in travel hubs over here. I also think what the guys at Jamie’s are doing with Aramark is really interesting and while it’s a different landscape here, workplace catering is certainly an area we are thinking about.

“At the moment I’m fascinated by the experience side of eating out and things like e-sports. There seems to be a lot of potential there.”

Delivery is also an increasingly important part of the casual dining offer in India, Reid said.

“You have all the same drivers as the UK with the added factor that it is just so hard to get about here that there is a real desire for food to be delivered to the home.”