When was 99 Pancakes founded?

99 Pancakes was founded in 2017 and raised its 1st funding round 5 years after it was founded.

Where is 99 Pancakes located?

99 Pancakes is headquartered in Mumbai, India. It is registered at A-3004, Marathon Futurex, Mafatlal Mills Compound N.M Joshi Marg, Lower Parel, Mumbai City, Mumbai, Maharashtra, India, 400013.

Who is the current CEO of 99 Pancakes?

Vikesh Shah of 99 Pancakes. They are also angel investors in 2 startups.

Which legal entities is 99 Pancakes associated with?

99 Pancakes is associated with EUPHORIYA HOSPITALITY PRIVATE LIMITED.

How many employees does 99 Pancakes have?

As of Aug 31, 2025, 99 Pancakes has 131 employees, reflecting a 55% year-over-year growth in headcount.

Is 99 Pancakes a funded company?

99 Pancakes is a funded company, having raised a total of $4.6M across 4 funding rounds to date. The company's 1st funding round was a $***** Seed round, raised on Mar 25, 2022.

How much is 99 Pancakes worth?

The latest valuation of 99 Pancakes is $***** as of Dec 10, 2025. This marks a decline of 8% from its peak valuation of $9.62M in Mar, 2022. This marks a decline of 8% from its peak valuation of $9.62M in Mar, 2022.

When was the latest funding round of 99 Pancakes?

99 Pancakes' latest funding was a $***** Series A round on Aug 27, 2024, with participation from 0 investor. Its primary sector is Food Service Chains. In India, the Food Service Chains sector has seen $274M in funding in 2026 to date.

What is the annual revenue of 99 Pancakes?

Annual revenue of 99 Pancakes is between ₹10 Cr and ₹50 Cr as on Mar 31, 2025

Where does 99 Pancakes rank among its competitors?

99 Pancakes ranks 9th amongst 278 active competitors, of which 23 are funded. It stands 6th in terms of total funding among its competitors. The most recent competitor to raise funding was Bakingo, which secured $10.5M in Jul, 2026.

Who are the top competitors of 99 Pancakes?

99 Pancakes' top competitors include YUM! Brands, The Belgian Waffle and Theobroma. Among them, Bakingo secured the most recent funding round in July, 2026.

99 Pancakes - 2026 Company Profile, Team, Funding, Competitors & Financials

Company Details

Chains providing pancakes, waffles, cakes, crepes, pastries, and related desserts. The company offers a variety of dessert options, including macarons, brownie brittle, chips, and chocolates. Additionally, the company provides tea, coffee, shakes, and merchandise.

Website: 99pancakes.in
Social
Email ID: *****@99pancakes.in, *****@99pancakes.in, *****@99pancakes.in
Registered Address: A-3004, Marathon Futurex, Mafatlal Mills Compound N.M Joshi Marg, Lower Parel, Mumbai City, Mumbai, Maharashtra, India, 400013

Key Metrics

Founded Year

2017

Location

Mumbai, India

Stage

Series A

Total Funding

$4.6M in 4 rounds

Latest Funding Round

Series A, Aug 27, 2024, $*****

Post Money Valuation

$***** as on Dec 10, 2025

Investors

Uptrend PG & 13 more

Ranked

9^th among 278 active competitors

Annual Revenue

₹10 - ₹50 Cr as on Mar 31, 2025

Employee Count

131 as on Aug 31, 2025

Similar Companies

Theobroma & 726 more

View 99 Pancakes' full profile

99 Pancakes is associated with 1 legal entity given below:

Legal Entity Name	Date of Incorporation	Revenue	Latest Employee Count	Reports
EUPHORIYA HOSPITALITY PRIVATE LIMITED CIN: U15495MH2018PTC304038 , India, Active	Jan 11, 2018	₹10 - ₹50 Cr (As on Mar 31, 2025)	189 (As on Mar 01, 2026)

99 Pancakes has raised a total funding of $4.6M over 4 rounds. Its first funding round was on Mar 25, 2022. 99 Pancakes has 2 institutional investors and 12 angel investors.

Here is the list of recent funding rounds of 99 Pancakes:

Filter this list

Date of Funding	Funding Amount	Round Name	Post-Money Valuation	Revenue Multiple	Lead Investors	Other Investors
Aug 27, 2024	2925357	Series A	5133677	9746273	9206701	5787839
Jul 02, 2024	4355735	Seed	3676857	8592683	2315100	4490886
Oct 23, 2023	5572091	Seed	6125447	4837495	1360060	Universalcinetrades

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View details of 99 Pancakes's funding rounds and investors

The founders of 99 Pancakes is Vikesh Shah. Vikesh Shah is the CEO of 99 Pancakes.

Here are the details of 99 Pancakes' key team members:

Vikesh Shah: Co-Founder & CEO of 99 Pancakes. They are also an angel investor in 2 startups and serve on the board of 1 company.
Contact Info: 1 email address and 1 phone number

99 Pancakes' Board of Directors

99 Pancakes's board has 3 active members. Vikesh Shah and Binita Vikesh Shah are part of team and Anil Mohanlal Bhabutmalji Parmar is independent board member.

Here is the list of 99 Pancakes' board of directors:

Name	Type	Representing	Status	Duration
Vikesh Shah	Team	-	Current	8y 8m
ezanyql	Team	-	Past	4y 5m
Anil Mohanlal Bhabutmalji Parmar	Independent board member	-	Current	4y 0m

View details of 99 Pancakes's Founder profiles and Board Members

99 Pancakes' employee count trend

99 Pancakes has 131 employees as of Aug 25. The total employee count is 54.0% more than what it was in Aug 24. Here is 99 Pancakes's employee count trend over the years:

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Top competitors of 99 Pancakes include YUM! Brands, The Belgian Waffle and Theobroma. Here is the list of Top 10 competitors of 99 Pancakes, ranked by Tracxn score:

Rank	Company Details	Short Description	Total Funding	Investors	Tracxn Score
1st	YUM! Brands 1997, Louisville (United States), Acquired	Restaurants chains	-	-	69/100
2nd	The Belgian Waffle 2015, Mumbai (India), Series A	Food franchise specializing in on-the-go waffle sandwiches	$3.99M	Marathon Edge, HDFC Mutual Fund & 4 others	62/100
3rd	Theobroma 2004, Mumbai (India), Acquired	Chain of bakery cafes offering cakes and pastries	$13.9M	ICICI Venture, Zend Advisors & 4 others	62/100
4th	Bakingo 2016, Gurugram (India), Series B	Online retailer of cakes, desserts, pastries, and bakery gift hampers	$26.5M	Faering Capital	59/100
5th	Mimansa Industries 2012, Ahmedabad (India), Series A	Chain of bakery cafe offering cakes and pastries	$7.2M	Wipro, Fireside Ventures & 5 others	56/100
6th	Subko Coffee 2020, Mumbai (India), Series B	Provider of specialty coffee, craft baked goods, and fine cacao products	$13.4M	NK Squared, Blume Venture & 38 others	55/100
7th	Rominus Pizza And Burger 2019, Jaipur (India), Seed	Chains providing pizza, burgers, side orders, beverages, desserts, and combos	$191K	-	51/100
8th	Mad Over Donuts 2007, Mumbai (India), Series A	Chain of limited service restaurants offering donuts and coffee	$7.86M	Mirah Hospitality & 8 others	50/100
9th	99 Pancakes 2017, Mumbai (India), Series A	Chains providing pancakes, waffles, cakes, crepes, pastries, and related desserts	$4.6M	Uptrend PG, Universalcinetrades & 12 others	49/100
10th	Suzette 2011, Mumbai (India), Seed	Provider of culinary experiences through restaurants, crêperies, and bistro-style dining, offering a range of traditional and artisanal food and beverage products	$2.31M	DSG Consumer Partners, Essay Commercial Resources ... & 4 others	47/100

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Founders (largest shareholder) own 42.06%, Enterprises own 24.17%, Angels own 19.74% and Other People own 14.02%. The net worth of 99 Pancakes's founders is INR 33.8Cr as of Dec 10, 2025. The cap table displayed below is for EUPHORIYA HOSPITALITY PRIVATE LIMITED which is the legal entity associated with 99 Pancakes.

Shareholders Name	Post Round Holding %	Net worth	Cumulative Investment	Realised Returns	Unrealised Returns	Return Multiple
Founder	42.06%	33.8Cr	2870788	3275399	9695655	9214290
Vikesh Shah	4342173	1042827	3404606	7086723	1109631	8105406
Enterprise	24.17%	19.4Cr	8471086	4551306	4171520	3569671
Angel	19.74%	15.8Cr	8511126	5538556	8668226	7042088
Anil Mohanlal Parmar	1698746	9865401	1943111	4575559	4111944	8829255
Manisha Anil Parmar	0	0	0	0	0	0
Other People	14.02%	11.3Cr	8735454	2651423	7873774	9035825
Total	100.00%	80.3Cr	9803189	7220817	6887965	7165925