You are here: Home » Companies » News
Business Standard

Curefoods raises $62 mn from Iron Pillar, Chiratae Ventures, Accel, others

Curefoods plans on utilising the investment to continue acquiring major cloud kitchen brands across the country.

funding | Startup

Deepsekhar Choudhury  |  Bengaluru 

Ankit Nagori, Founder, Curefoods
Ankit Nagori, Founder, Curefoods

Cloud kitchen company Curefoods has raised $62 million from Iron Pillar, Chiratae Ventures, Sixteenth Street Capital, Accel Partners and Binny Bansal. While $52 million came in equity funding, $10 million came in debt financing from Alteria Capital, BlackSoil Capital & Trifecta Capital.

Curefoods plans on utilising the investment to continue acquiring major cloud kitchen brands across the country. Additionally, the company expects to make further inroads by geographically expanding its multi-brand kitchens across the country and building a D2C platform for all its brands.

The company owns multiple brands and runs over 100 cloud kitchens nationwide. Curefoods’ growth in the market has vastly outpaced industry norms, with revenue growing 50 per cent Q-o-Q over the last one year.

Ankit Nagori, founder of Curefoods, said, “The online food delivery industry in India is going through a revolutionary phase; the market has shown huge prospects and attracted heavy investments in recent years. Over the next decade, there will be an opportunity to build multiple food brands across cuisines and geographies. With the fund infusion, we plan on expanding across geographies, and meeting newer customer expectations.”

Curefoods commenced operations in 2020 and currently operates brands like EatFit, Yumlane, Aligarh House Biryani, Masalabox and CakeZone across 12 cities in India.

Dear Reader,

Business Standard has always strived hard to provide up-to-date information and commentary on developments that are of interest to you and have wider political and economic implications for the country and the world. Your encouragement and constant feedback on how to improve our offering have only made our resolve and commitment to these ideals stronger. Even during these difficult times arising out of Covid-19, we continue to remain committed to keeping you informed and updated with credible news, authoritative views and incisive commentary on topical issues of relevance.
We, however, have a request.

As we battle the economic impact of the pandemic, we need your support even more, so that we can continue to offer you more quality content. Our subscription model has seen an encouraging response from many of you, who have subscribed to our online content. More subscription to our online content can only help us achieve the goals of offering you even better and more relevant content. We believe in free, fair and credible journalism. Your support through more subscriptions can help us practise the journalism to which we are committed.

Support quality journalism and subscribe to Business Standard.

Digital Editor

First Published: Wed, January 12 2022. 18:25 IST