99 Pancakes, a Mumbai-based quick service restaurant (QSR), has raised Rs 6.5 crore from a group of angel investors in a round of fundraising. In the next months, India’s first QSR chain specialising in pancakes plans to use the funds for aggressive expansion and marketing across the country. The company, which recently partnered with major kids’ entertainment channel Cartoon Network to launch a special summer menu for youngsters, will continue to expand its marketing partnerships.
99 Pancakes, founded by Mumbaikar Vikesh Shah in 2017, is a specialised QSR business with 45 locations in 14 cities, including Mumbai, Surat, Pune, Varanasi, Indore, and Jabalpur. With almost 20 locations in Mumbai, the brand has a stronghold. This is the brand’s first round of finance, and the company has already laid out plans to use the funds to expand across the country. 99 Pancakes wants to open 25 locations in the first phase, and with additional finance, it hopes to expand into Tier 2 and Tier 3 cities. To indicate its presence across the country, the brand will use the Company Owned Company Operated (COCO) and Franchise Owned Company Operated (FOCO) models. The brand will also be entering the market soon.