The biryani & gourmet burger brand aims exponential growth with expansion in India & international markets
New Delhi (India), July 23: Quick Service Restaurant chain – Charcoal Eats – recently announced it has secured funding of INR 45 crore. The investment round was led by Girish Patel, founder of Paras Pharma. The round also saw participation from investors including Anil Sanghvi, chairman at Sanghvi Erectors, Ajinkya Firodia, MD, Kinetic Group and Rajiv Jain, an ex-banker. The company operates brands as Charcoal Eats for Biryani and B Burger across Mumbai, Pune and Delhi NCR. With this investment, Charcoal Eats aims to strengthen brand operations as well as expand its footprint within the country and in international markets.
Charcoal Eats’ Co-founder Krishnakant Thakur said, “For almost a decade now Charcoal Eats has been delighting consumers with delectable biryanis. We added scrumptious burgers as well to the menu based on consumer preferences & market gap. This influx of capital will be invested in furthering our brand building efforts, distribution network, better integration of technology and exploring newer markets outside the country. We are expecting revenues to grow five times over the next two years. Coupled with a capex and opex light model, we aim to achieve exponential growth in a very capital efficient manner. We are excited and optimistic to introduce our brands to more consumers and make their days more yummy-licious!”
Girish Patel, Founder Paras Pharma, said, “Partnering with Charcoal Eats provides us with an opportunity to foray into an interesting category as food, with one of India’s most loved cuisine – Biryani. With a firm belief in the unwavering grit and vision of the brand’s founding entrepreneurs, we are hopeful of scaling newer heights for the brand. Together we are committed to drive operational excellence and induce customer delight in the quick service restaurant (QSR) sector.”
Founded in 2015 by Anurag Mehrotra and Krishnakant Thakur, Charcoal Eats operates around 40 outlets, mostly cloud kitchens, across Mumbai, Pune and Delhi-NCR. The company is expecting to achieve an annualised run rate of INR 150 crore by fiscal end. The India online food delivery market is estimated to reach $18 Bn by 2030, and biryani continues to be a cuisine of choice for Indians.
