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May, 10 2018

QSR chain Charcoal Eats Sercures Rs 5 Cr Funding From HNIs in Pre-Series A round

Charcoal Eats claims to be offering all-day food options during snack and meal times at various price points. Customers can dine-in, take-away or order for delivery, as per their convenience.

The Mumbai-based Quick service restaurant chain, Charcoal Eats has bagged Rs 5 crore ($742,000) from a clutch of angel investors in its pre-Series A round of funding, a company statement said.

The QSR chain will increase its footprint across new geographies as well as consolidate its presence in existing markets by using generated funding. A part of the money will also be used towards brand building activities, the statement added.

The participating investors in this round include Rajesh Ramanathan, head of global growth at Mondelez; Sanjay Bhandarkar, senior advisor at Rothschild India; Amit Gupta, partner at New Quest Capital Partners; and Vishesh Shrivastav, director at Temasek, among others.

“The new investment reiterates our commitment towards building a sustainable and scalable Indian QSR offering consistent quality across the country,” said Anurag Mehrotra, chief executive of Charcoal Eats.

Prior to this round, the firm, which is run by CharcoalEats Foodtech Pvt Ltd, raised Rs 7 crore from several angel investors.

Mehrotra along with three others Krishnakant Thakur, Gautam Singh and Mohammed Bhol launched the firm in September 2015.

Charcoal Eats claims to be offering all-day food options during snack and meal times at various price points. Customers can dine-in, take-away or order for delivery, as per their convenience. The offerings include a wide array of biryanis, rolls, puff pizzas, beverages, and desserts.

The firm currently operates 22 outlets across six cities Mumbai, Thane, Navi Mumbai, Pune, Delhi-NCR, and Nashik. It aims to set up more than 60 similar units across 10 cities by the end of this year.

Charcoal Eats is also available on all leading food platforms such as Zomato, Swiggy, Foodpanda, Dine Out, etc. Corporate executives will soon be able to pay for their Charcoal Eats orders with their Sodexo and Ticket Restaurant cards.

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