QSR Chain 99 Pancakes raises Rs 6.5 cr from group of angel investors

Mumbai-based QSR chain 99 Pancakes has raised INR 6.5 crore in a round of funding through a group of angel investors.

Known for its pancakes, it is planning to utlize the funding for aggressive expansion and marketing across India in the coming months.

The brand which recently collaborated with leading kids’ entertainment channel, Cartoon Network to roll out a special summer menu for children will be further spreading its wings for such marketing associations.

“In the last 5 years, 99 Pancakes has successfully carved a niche for itself in the QSR segment. We have grown steadily through the owned and franchise route so far. With this funding, we will steer ahead and expand our presence in Delhi, Gurgaon, Noida, Ahmedabad, Bengaluru, and Chennai,” shared Vikesh Shah, Founder, 99 Pancakes who is also eyeing the institutional franchise route.

Started by Mumbaikar Vikesh Shah in 2017, 99 Pancakes is a specialty QSR chain with 45 outlets operational across 14 cities - Mumbai, Surat, Pune, Varanasi, Indore, Jabalpur amongst others.

99 Pancakes plans to open 25 outlets, in the first phase and going ahead with more rounds of funding, it plans to penetrate in Tier 2 & 3 cities as well.

It is also planning to soon enter the FMCG segment as well with the introduction of its first product as pancake premixes.

“With this funding we intend to enter the FMCG segment with pancake premixes. A part of these funds will also be utilised towards brand building and marketing. We have grown organically so far and we will now adopt a strategic approach towards brand positioning and visibility through a digital first approach,” he added.

Naresh Kamath who invests in ace startups said multiple factors induced him to invest in this project. “Since its inception, the brand has performed steadily and has continued expanding its footprints. Despite the setback in the last two years, the brand has not only managed to sustain but also has registered very good numbers especially since the restrictions were relaxed. The F&B industry is showing great promise in the country. I am confident about its management and expect it to become one of the most popular brands in the country within a couple of years.”