SUMMARY
- 99 Pancakes has raised ₹20 crore in Series A funding from a family office, following a previous ₹6.5 crore round.
- The funds will be used to open 50 new outlets by the end of 2024 and a total of 200 outlets by December 2025.
- The company plans to expand to 50 cities in India, with a focus on Gujarat, and has already opened four new outlets this month.
99 Pancakes, a quick service restaurant (QSR) chain, has raised ₹20 crore ($2.4 million) in a Series A funding round from a family office. This new capital infusion follows a previous funding round in March 2022, where the company raised ₹6.5 crore from angel investors.
Founded in 2017 by Vikesh Shah, 99 Pancakes offers a diverse menu featuring pancakes, waffles, French crepes, macaroons, croissants, pizzas, and shakes. The latest funding will be directed towards expanding the company’s footprint across India.
The Mumbai-based chain plans to open 50 new outlets by the end of this year and aims to grow to 200 outlets by December 2025. The expansion strategy includes increasing its presence in 50 cities nationwide through both company-owned locations and partnerships with master franchisees.
In the current month, 99 Pancakes has opened four new outlets, focusing its expansion efforts in Gujarat with new locations planned for Ahmedabad, Vadodara, Anand, Surat, and Vapi.
