Mumbai, 28 August 2024: 99 Pancakes announced that it has successfully raised INR 200 million in a recent Series A funding round. This significant investment is received from the family office, which will fuel the company’s ambitious pan-India expansion strategy, focusing on increasing its presence in Tier 1 cities and beyond.
With this new capital, 99 Pancakes aims to significantly scale its operations across the country. The company is set to add 50 new outlets by the end of the current year and 200 outlets by the end of December 2025 via company. The company aims to expand geographic coverage to 50 cities across India, making 99Pancakes a recognizable and beloved brand nationwide. The company will expand its presence by opening company-owned outlets and associating with master franchisees in different regions.
In the current month, 99Pancakes has opened 4 new outlets, marking a successful month of growth. The momentum will continue into September with plans to launch an additional 8 outlets. The company’s current expansion efforts are centred on the state of Gujarat, with new locations slated for Ahmedabad, Vadodara, Anand, Surat, and Vapi.
Vikesh Shah, Founder, 99 Pancakes said “With the support and trust of our team, we embark on this exciting phase of growth. This funding will enable us to enhance our operations and accelerate our expansion plans, bringing the unique pancake experience to more cities and more customers across India and become a household name”.
99 Pancakes continues to innovate and expand its offerings, aiming to provide exceptional dining experiences while reaching new heights in the Indian café sector.
