Charcoal Eats bags INR 16 Cr from Lokmat Investments

Mumbai-based QSR chain Charcoal Eats has raised INR 16 Cr in a round of funding led by Lokmat Investments, a division of multi-platform media company Lokmat Media.

The funding round also saw participation from a string of business leaders from the financial and FMCG segment, including Nilesh Mehta, Girish Patel and Pankaj Razdan.

The brand will use the funding to strengthen its presence in different parts of the country and invest in brand building.

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It is presently operational in nine Indian cities including; Mumbai, Thane, Navi Mumbai, Pune, Jammu, Aurangabad, Hyderabad, Vishakhapatnam and Kolkata.

“In the last 5 years, we have served over 1.5 Mn orders and enjoy high customer satisfaction. The new investment reiterates our commitment towards building a high-quality Indian QSR brand and our investors’ confidence in the scalability of our model,” said Anurag Mehrotra, Co-Founder & CEO, Charcoal Eats.

Founded in 2015 by Mehrotra, Krishnakant Thakur and Mohammed Bhol, Charcoal Eats is a quick-service restaurant chain that delivers “high quality, consistent, authentic, modern Indian flavours to its patrons across the country across snack and meal times at affordable prices.