FundingCommerce & Consumer Brands
The Croffle Guys raises ₹14 Cr at ₹100 Cr valuation
By Abha Lohia · Editor ·
Croffle Guys: funding and every story →
MumbaiFounded 2025
- The Croffle Guys is a Mumbai quick-service chain selling croffles, a croissant and waffle mix, in sweet and savoury forms
- It raised ₹14 crore led by V3 Ventures, with Navin Agarwal's family office N.A.N Partners joining, at a ₹100 crore post-money value
- Funds will add over 40 outlets, mostly in Mumbai and Delhi, after growing from two stores to eight in about a year
What happened
- The chain raised ₹14 crore.
- V3 Ventures led the round.
- N.A.N Partners, a family office, took part.
- Post-money valuation is ₹100 crore.
- More than 40 outlets are planned.
Why it matters
- It grew from 2 to 8 outlets in about a year.
- Annualised revenue run rate is ₹24 crore.
- It wants ₹100 crore in annual revenue within 10-12 months.
The business
- It sells croffles in sweet and savoury menus.
- It appeared on Shark Tank India.
- It got a ₹2.5 crore deal there at a ₹50 crore valuation.
- Monthly revenue is about ₹2 crore.
The founders
RV
Rahul Vohra
Co-founderAA
Annanya Agarwal
Co-founderAT
Amay Thakkar
Co-founderVP
Veer Pinto
Co-founderWho put in money
- V3 Ventures Lead
- N.A.N Partners Investor — Family office of Navin Agarwal
In numbers
₹24 CrAnnualised revenue run rate · 2026
What happens next
- Add 40+ outlets in Mumbai, Delhi and Pune.
Earlier rounds
- Shark Tank India: ₹2.5 Cr at ₹50 Cr valuation
The numbers around it
Croffle Guys has 2 funding rounds in StopDown's archive.
| When | Round | Amount | Led by |
|---|---|---|---|
| 7 January 2026 | Angel | $277.97K | Kunal Bahl |
Commerce & Consumer Brands in November 2026: 7 rounds with a disclosed amount, $119 million in all; the biggest was GIVA ($100M+). Every sector this year →
Terms in this story
- Valuation: A startup's valuation is the total price investors agree the company is worth, and it decides how many shares their money buys. For young companies it is set by negotiation and comparison, not a formula. In India, pricing rules for foreign investors apply, and angel tax no longer does for money raised since 1 April 2024.
- Pre-money / post-money: Pre-money valuation is what a company is worth before new money comes in, and post-money is that figure plus the new investment. An investor's stake is the money put in divided by the post-money value, so ₹10 crore at ₹50 crore post-money buys 20 percent. News headlines often leave out which of the two they quote.
- Family office: A family office is a private company that manages the wealth of one wealthy family, or a few families together. In startups, family offices invest directly and also back venture funds as limited partners. In India they are not a regulated category on their own, though the funds they invest through can be SEBI-registered AIFs.
- Valuation: A private startup does not have a net worth you can look up. It has a valuation: a price tied to a funding round, a share sale or a company statement. Net worth means assets minus debts, and it belongs to people and listed companies. In Indian news, valued at usually points to a recent deal.
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