The Croffle Guys raises Rs 14 crore led by V3 Ventures

Mumbai-based quick-service restaurant startup The Croffle Guys has raised Rs 14 crore in a funding round led by V3 Ventures. N.A.N Partners, the family office of Navin Agarwal, also participated.

The round values the company at Rs 100 crore post-money.

The company said the fresh capital will go toward expanding its store network. It plans to add more than 40 outlets, primarily across Mumbai and Delhi, with a selective presence in Pune.

The Croffle Guys was co-founded in 2025 by Rahul Vohra, Annanya Agarwal, Amay Thakkar and Veer Pinto. It sells croffles, a fusion of croissants and waffles, in sweet and savoury versions.

The company has grown from two outlets to eight in about a year. It operates at an annualised revenue run rate of Rs 24 crore, with monthly revenue of roughly Rs 2 crore.

It reports nearly threefold revenue growth over the past six months. It is targeting Rs 100 crore in annual revenue over the next 10 to 12 months, and aims to lift monthly revenue to Rs 8 crore.

The startup first drew national attention on Shark Tank India, where it secured a Rs 2.5 crore investment deal at a valuation of Rs 50 crore.

V3 Ventures has backed consumer and food businesses including Go Zero, Crème Castle, Dil Foods, Super You and Salad Days.

The investment also gives the startup access to the consumer business experience of Verlinvest, which has backed Oatly, Epigamia, Blue Tokai Coffee Roasters and Insomnia Cookies.

The company plans to build a larger footprint beyond its initial markets.