The Croffle Guys Funding: Raises ₹14 Crore at ₹100 Crore Valuation
- The Croffle Guys has raised ₹14 crore in a funding round led by V3 Ventures at a ₹100 crore post-money valuation.
- The startup previously raised ₹2.5 crore on Shark Tank India at a ₹50 crore post-money valuation.
- The company plans to add 40+ outlets across Mumbai and Delhi, with selective expansion into Pune.
Mumbai-based quick-service restaurant (QSR) startup The Croffle Guys has raised ₹14 crore in a funding round led by V3 Ventures, with participation from N.A.N Partners, the family office of Navin Agarwal. The round values the company at ₹100 crore post-money.
The fresh capital will be used to expand the company’s store network, with plans to add more than 40 outlets, primarily across Mumbai and Delhi, along with a selective presence in Pune.
The Croffle Guys Scales From Two to Eight Outlets
Founded in 2025 by Rahul Vohra, Annanya Agarwal, Amay Thakkar and Veer Pinto, The Croffle Guys operates in the QSR segment with a menu centred on croffles (a combination of croissants and waffles) along with sweet and savoury options. The company has grown from two outlets to eight in around a year.
The startup currently has an annualised revenue run rate of around ₹24 crore and reported nearly threefold revenue growth over the past six months. Monthly revenue currently stands at approximately ₹2 crore, which the company aims to increase to ₹8 crore.
The brand first gained wider attention after appearing on Shark Tank India, where it secured a ₹2.5 crore investment for 5% equity at a ₹50 crore post-money valuation.
Fresh Funding to Drive Mumbai and Delhi Expansion
The latest funding will support the addition of more than 40 stores, taking the company beyond its current eight-outlet network. Mumbai and Delhi will remain the primary expansion markets, while Pune will be explored selectively.
The company is targeting ₹100 crore in annual revenue over the next 10–12 months and plans to increase monthly revenue from about ₹2 crore to ₹8 crore. This would require continued growth in store count and revenue per outlet as the business expands.
V3 Ventures is the early-stage investment arm of Verlinvest and has invested in consumer and food brands including Go Zero, Crème Castle, Dil Foods, Super You and Salad Days.
