QSR startup The Croffle Guys secured Rs 14 Cr from V3 Ventures, N.A.N Partners at Rs 100 Cr valuation
Mumbai-based quick-service restaurant (QSR) startup The Croffle Guys has raised Rs 14 crore in a funding round led by V3 Ventures, with participation from N.A.N Partners, the family office of Navin Agarwal. The funding round values the company at Rs 100 crore post-money.
The company said in a press release that the fresh capital will support its store expansion plans, which include opening more than 40 outlets, mainly across Mumbai and Delhi, along with a selective presence in Pune.
Founded in 2025 by Rahul Vohra, Annanya Agarwal, Amay Thakkar and Veer Pinto, The Croffle Guys operates in the QSR segment, specialising in croffles, a combination of croissants and waffles. Its menu features both sweet and savoury options.
The startup has grown its network from two outlets to eight in around a year and currently operates at an annualised revenue run rate of Rs 24 crore. It is aiming to achieve Rs 100 crore in annual revenue over the next 10-12 months.
The company has also reported nearly threefold growth in revenue over the past six months, with its monthly revenue currently at approximately Rs 2 crore. It plans to increase this to Rs 8 crore per month.
The Croffle Guys initially attracted nationwide attention after appearing on Shark Tank India, where it secured an investment commitment of Rs 2.5 crore at a valuation of Rs 50 crore.
The latest investment also provides the startup access to Verlinvest’s experience in the consumer business sector. The investment firm has backed brands such as Oatly, Epigamia, Blue Tokai Coffee Roasters and Insomnia Cookies.
V3 Ventures has also invested in several consumer and food businesses, including Go Zero, Crème Castle, Dil Foods, Super You and Salad Days.
As part of its growth strategy, The Croffle Guys plans to move beyond its initial markets and establish a wider presence in India’s organised QSR industry.
