top of page

Curefoods Secures Additional Funding from Binny Bansal, Eyes Offline Expansion

Bengaluru-based cloud kitchen startup Curefoods has received a fresh injection of $25 million from Binny Bansal's investment firm, Three State Ventures. This investment builds upon an earlier investment from Three State Ventures in April 2023, bringing their total contribution to $50 million.

Curefoods plans to leverage these funds to strengthen its offline presence. The focus will be on expanding popular brands like Nomad Pizza and Sharief Bhai Biryani, solidifying their position in the Indian food market.

 

Founded by Ankit Nagori in 2020, Curefoods has grown rapidly. They currently boast over 200 cloud kitchens and offline stores across 15 Indian cities. Valued at roughly $375 million, Curefoods offers a diverse range of cuisines through brands like EatFit, Cakezone, and Frozen Bottle. Their growth strategy has also involved strategic acquisitions, with foodtech startup Yumlane and millet startup Millet Express joining their portfolio.

 

Since his departure from Flipkart, Binny Bansal has become a prominent investor in the Indian startup scene. His latest investment in Curefoods involved buying out stakes held by Cultfit and angel investors, increasing his ownership to 18%. Bansal's investment activities extend beyond Curefoods. He has launched his own startup, OppDoor, and is actively seeking leaders to spearhead these new ventures. Notably, Bansal's portfolio also includes companies like Acko, Inshorts, Ula, Rupifi, and Cult.fit.

Curefoods faces stiff competition in the cloud kitchen market, with established players like Rebel Foods and Box8 vying for market share. Despite this, Curefoods has carved out a significant space, becoming the second-largest brand in terms of revenue after Rebel Foods. Strategic acquisitions and a focus on expansion have been instrumental in their growth, with revenues reaching Rs 384 crore in the last fiscal year.


 

Comments


bottom of page