Food tech brand Charcoal Eats has cumulatively raised Rs 1crore in growth capital from Revenue-Based Financing leader GetVantage this week for 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, the company said in a press release.
Launched in 2015, Charcoal Eats has established itself as a quick service restaurant (QSR) startup serving over 2 million orders since its inception, it claimed. In November 2020, the company announced Rs 16 crore funding round led by Lokmat Investments along with participation from other investors, including business leaders from the financial and FMCG sectors.
Krisnakant Thakur, co-Founder, Charcoal Eats said, “With a complete alignment towards the common objective of sustainable growth, it has been a wonderful association with GetVantage."
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 offers 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.
GetVantage, the revenue-based financing fintech platform in India, 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, it said.
