11 May 2018, India:
Charcoal Eats has raised ₹5 crore in pre-Series A round of funding. The funding round was led by a group of Angel Investors including Rajesh Ramanathan (Head of global growth at Mondelez), Vishesh Shrivastav from Temasek, Kush Verma of Asoka Capital, Sanjay Bhandarkar of Rothschild, Amit Gupta of New Quest Capital Partners, Sachin Khivasara of Bouyant Capital, Chetan Mehrotra.
The fresh capital will be used by Charcoal Eats to increase its footprint across new geographies as well as consolidate its presence in existing markets and invest in customer acquisition and brand building.
Anurag Mehrotra, Co-founder & CEO of Charcoal Eats said, “We have successfully achieved consistency and scalability in the Indian QSR segment which are two major challenges in this space. Our strong product focus enabled by in-house technology is at the heart of our business. In the last 2 years, we have served over half a million customers and enjoy a high customer satisfaction, resulting in repeat business of over 50%. The new investment reiterates our commitment towards building a sustainable and scalable Indian QSR offering consistent quality across the country.”
Charcoal Eats was founded by Anurag Mehrotra, Krishnakant Thakur, Gautam Singh and Mohammed Bhol in 2015. It is a tech-enabled, Indian QSR venture. It offers high quality, all-day food options across snack and meal times, at various price points. Currently, It operates 22 outlets across 6 Indian cities – Mumbai, Thane, Navi Mumbai, Pune, Delhi-NCR, Nashik.
(Image – Charcoal Eats)