Mumbai-headquartered quick service restaurant (QSR) startup Charcoal Eats has raised INR 16 Cr in a round of funding led by Lokmat Investments, a division of multi-platform media company Lokmat Media.
The funding round also saw participation from a string of business leaders from the financial and FMCG (fast-moving consumer goods) segment, including Nilesh Mehta, Girish Patel and Pankaj Razdan.
Charcoal Eats will use the funding to strengthen its presence in different parts of the country and invest in brand building. The company claims to have a presence in nine Indian cities, namely, Mumbai, Thane, Navi Mumbai, Pune, Jammu, Aurangabad, Hyderabad, Vishakhapatnam and Kolkata.
“In the last 5 years, we have served over 1.5 Mn orders and enjoy high customer satisfaction. The new investment reiterates our commitment towards building a high-quality Indian QSR brand and our investors’ confidence in the scalability of our model,” said Anurag Mehrotra, cofounder and CEO of Charcoal Eats.
Charcoal Eats is a quick-service restaurant chain that delivers “high quality, consistent, authentic, modern Indian flavours to its patrons across the country across snack and meal times at affordable prices.” While the company started with six biryani variants, today, the company claims to be offering 50 different all-day food options across snack and meal times, that include biryanis, starters, curries, rice bowls, rolls among others.