Thursday, September 29, 2022
HomeInsightFunding Alert Cloud kitchen platform Curefoods raises $50 mn in funding

[Funding alert] Cloud kitchen platform Curefoods raises $50 mn in funding

[Funding alert] Cloud kitchen platform Curefoods raises $50 mn in funding
Cloud kitchen platform Curefoods

Curefoods Pvt Ltd, a cloud kitchen startup has raised $50 million in its Series C funding round from mix of new and existing investors.

With this funding round, the company has raised over $120 million in equity and venture debt so far.

According to regulatory filings, existing investors Chirate Ventures invested around $1.6 million, while Accel India invest $3.9 million and Iron Pillar $10 million.

The startup plans to use the funds for expansion of its acquired brands into new geographies and acquisition of new brands.

The Bengaluru-based Curefoods was founded in 2020 by Ankit Nagori, It is following a Thresio-style model in which it acquires medium-sized food brands.

The startup has so far acquired a mix of small and medium-sized brands such as Juno’s Pizza, CakeZone, Iceberg, MasalaBox and White Kitchen, HomePlate.

In January 2022, Curefoods had raised$62 million in funding roundfrom its existing investors Iron Pillar, Chiratae Ventures, Sixteenth Street Capital, Accel Partners and Binny Bansal.

Earlier this year, CureFoods merged with rival Maverix, and the combined entity has around 125 cloud kitchens in 12 cities including Delhi, Mumbai and Bengaluru. Earlier, it acquired a majority stake in milkshake brand Frozen Bottle and bought the South India franchise rights for US-based legacy pizza chain Sabero.

About Curefoods

At Curefoods, their purpose is to make honest food that customers love. By incubating food brands and operating state of art cloud kitchens, they want to democratize access to good food in a sustainable manner.

They believe in the power of good food- the power of good food to make us happier and healthier. They provide food that can suit the palette of their customers daily while keeping in mind their nutrition needs.

They currently operate brands like EatFit, Yumlane, Aligarh House Biryani, MasalaBox, Cakezone, Great Indian Khichdi, Ammis Biryani, Canteen Central, Homeplate to name a few.

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