Mumbai-based restaurant company The Croffle Guys has announced a ₹14 crore funding round led by V3 Ventures, with N.A.N. Partners also participating, to support an expansion of its outlet network.
The November 3 company announcement puts its post-investment valuation at ₹100 crore. It says the business has grown from two outlets to eight and plans more than 40 additional locations, mainly in Mumbai and Delhi, with some presence in Pune.
The brand sells croffles, made by combining croissant-style pastry with the waffle format, in sweet and savoury versions. Rahul Vohra, Annanya Agarwal, Amay Thakkar and Veer Pinto founded the business in 2025.
In an ETEntrepreneur interview, Vohra said its stores are company-operated and it does not plan to franchise. He described central kitchens in Mumbai and Delhi that prepare semi-finished products and fillings.
The proposed outlets remain expansion plans, rather than completed openings. The company has not supplied an individual opening schedule for the announced network.
Archive illustration: an Oreo croffle at Fluffy Fluffy Dessert Cafe in Brighton, UK, photographed in June 2025. This is not a product from The Croffle Guys. Photo: Andy Li / Wikimedia Commons, CC0.
