Mumbai-based startup 99 Pancakes raises Rs 6.5 Cr to fuel expansion

Plans to open 25 outlets across India over the coming months

Mumbai-headquartered quick service restaurant (QSR) chain 99 Pancakes has raised Rs 6.5 crore in a round of funding through a group of angel investors. India’s first QSR chain specialising in pancakes is set to utilise 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.

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. The brand enjoys a dominant presence in Mumbai with 20+ outlets.

This is the brand’s first round of funding and the company already has defined plans to consume the incoming funds to fuel country-wide expansion. 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.

The brand will follow the Company Owned Company Operated (COCO) and Franchise Owned Company Operated (FOCO) model to mark its presence all over the country. The brand will also soon enter the FMCG segment as well with the introduction of its first product as pancake premixes.