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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.
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