What’s the deal? Chubby Group, a US restaurant and hospitality company, has raised $50 million in a Series A round led by Prysm Capital. The round values the company at $500 million post-money, co-founder David Zhao told Axios.
Why now? It is the company’s first institutional funding, and it arrives as Chubby Group pursues a major acquisition — a deal tied to GEN Korean BBQ.