Charcoal Eats Secures INR 45 Crore Funding for Expansion

Charcoal Eats, a Quick Service Restaurant chain, has secured INR 45 crore in a funding round led by Girish Patel, with participation from other investors. The funds will be used to expand operations and strengthen the brand's presence in national and international markets. The company aims to grow revenues fivefold in the next two years.

New Delhi (India), July 23: Quick Service Restaurant chain, Charcoal Eats, has recently announced a funding round where it secured INR 45 crore. The investment was led by Girish Patel, founder of Paras Pharma, along with investors Anil Sanghvi of Sanghvi Erectors, Ajinkya Firodia of Kinetic Group, and ex-banker Rajiv Jain.

The funding aims to bolster Charcoal Eats' operations and expand its footprint both domestically and internationally. Co-founder Krishnakant Thakur expressed excitement about the future, noting that the investment would enhance brand building, improve distribution networks, and integrate technology better.

With around 40 outlets across Mumbai, Pune, and Delhi-NCR, Charcoal Eats aims for exponential growth. The company is targeting an annualized run rate of INR 150 crore by the fiscal year-end, amid a booming Indian online food delivery market estimated to reach $18 billion by 2030.