Quick-service restaurant (QSR) startup Charcoal Eats has raised Rs 5 crore in a pre-series-A round from a consortium of HNI investors.
The funding round saw participation from Rajesh Ramanathan – Head Global Growth Mondelez, Kush Verma – Asoka Capital, Sanjay Bhandarkar – Rothschild, Amit Gupta – New Quest Capital Partners, Vishesh Shrivastav – Temasek, Sachin Khivasara – Bouyant Capital, and Chetan Mehrotra.
With the fresh capital, the Mumbai-based startup will explore new cities and invest in customer acquisition and brand building.
Currently, Charcoal Eats operates 22 outlets across 6 Indian cities – Mumbai, Thane, Navi Mumbai, Pune, Delhi-NCR, Nashik. By December 2018, the company is targeting to have 60 plus outlets spread across 10 cities, reveals its press statement.
Founded by Anurag Mehrotra, Krishnakant Thakur, Gautam Singh and Mohammed Bhol, in 2015, Charcoal Eats claims to offer quality, all-day food options across snack and meal times, at various price points.
The offerings include a wide array of Biryanis, Rolls, Loaded Fries, Starters, Puff Pizzas, Beverages & Desserts.
Charcoal Eats takes orders directly via its app, website or customer care number. Besides. it is also available on marquee foodtech platforms such as Zomato, Swiggy, Foodpanda, Dine Out, among others. Besides, it also lets consumers to dine-in at its outlets.
The startup claims that it has served over half a million customers in the past 2 years with repeat business of over 50 per cent. Since inception has raised Rs 7 crore million from HNIs.