Food tech brand, Charcoal Eats, has cumulatively raised INR 1cr in growth capital from Revenue-Based Financing leader GetVantage this week to supercharge growth. This is a larger follow-on financing and will be used to fuel expansion through new product launches and marketing in the coming months.Launched in 2015, Charcoal Eats has firmly established itself as a leading quick service restaurant (QSR) startup serving over 2 million orders since its inception. In November 2020, the company announced an INR 16 cr funding round led by Lokmat Investments along with participation from other investors, including business leaders from the financial and FMCG sectors.
Anurag Mehrotra, Co-Founder, Charcoal Eats said, “With a complete alignment towards the common objective of sustainable growth, it has been a wonderful association with GetVantage. They truly understand the needs of high-growth phase businesses, their capital requirements & most importantly the need for speed in execution.”
Bhavik Vasa, Founder & CEO, GetVantage said, “As a founders-first company we are passionate about empowering home-grown entrepreneurs like Krishnakant with growth solutions powered by revenue-based financing. Charcoal Eats continues to raise the bar in the food tech space across India and we are thrilled to serve as their long-term growth partner in bringing better food to more plates across the country.”
Charcoal Eats offer quality, all-day food options across snack and meal times across a wide array of biryanis, rolls, rice bowls, starters, beverages and desserts. It is also available on all leading food platforms including Zomato and Swiggy .
As the leading revenue-based financing fintech platform in India, GetVantage has made over 150 investments in over 75+ digital-first brands across sectors and is committed to supporting made-in-India brands like Charcoal Eats. The company is on track to fund 250+ brands in the next 12 months.