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Cloud kitchen company Curefoods raised Rs 80 crore ($9.6 million) in loans from Binny and Jitender Kumar Bansal. The Bengaluru startup has raised twice in six months.
According to ROC filings, Binny Bansal and Jitender Kumar Bansal loaned the firm Rs 80 crore by advancing an unsecured member deposit under the credit arrangement.
Curefoods is seeking $40 million in primary and secondary transactions for its Series D round. The company may be worth $500 million.
Curefoods runs EatFit, Yumlane, Aligarh House Biryani, Masalabox, and CakeZone. Over 100 kitchens in 200 sites in 15 cities are served by over 7 food factories and 150 multi-brand cloud kitchens.
Read also - Qure.ai Secures $65M Series D Funding Round Led by Lightspeed and 360One Asset
Aside from fundraising, the company purchased YumLane Pizza and Millet Express in 2023. Hogr, a restaurant and food discovery networking site, received Rs 10 crore ($1.2 million) in December.
Reebel Foods leads the cloud kitchen market, but Curefoods is second. Curefoods' FY23 revenue was Rs 384 crore; FY24 data are unknown. FY24 operational revenue was Rs 1,420 crore for Rebel Foods. EatClub and Biryani By Kilo are the next companies with FY23 sales over Rs 300 crore.
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