2020
Bengaluru (India)
Series D
Curefoods is a leading Indian foodtech company specializing in building and operating a multi-brand cloud kitchen and food services platform. Founded in 2020 by Ankit Nagori, former co-founder of Cultfit, Curefoods is headquartered in Bengaluru, Karnataka, and has rapidly grown to become one of the largest players in India’s cloud kitchen and food delivery sector. The company’s operations span over 340 cloud kitchens in 35 cities and 60 offline outlets across 10 cities, with a portfolio of popular brands such as EatFit, CakeZone, Nomad Pizza, Sharief Bhai, Olio Pizza, Frozen Bottle, and Aligarh House Biryani.
Curefoods operates a diverse portfolio of over 20 food brands through cloud kitchens and offline outlets across India. Its key offerings include:
EatFit: Health-conscious meals focused on nutrition and wellness.
CakeZone: Online confectionery specializing in cakes and desserts.
Sharief Bhai: Popular biryani and Mughlai cuisine brand.
Nomad Pizza & Olio Pizza: Gourmet and widely distributed pizza brands.
MasalaBox & Paratha Box: Subscription-based home-cooked meals and Indian breakfast specialties.
Chaat Street & Ammi’s Biryani: Regional street food and biryani favorites.
Frozen Bottle: Beverages and desserts brand.
Curefoods offers food delivery through cloud kitchens, dine-in restaurants, and takeaway kiosks, leveraging technology and operational excellence to scale multiple cuisines and dining experiences under one umbrella.
Direct Sales: The primary revenue comes from the sale of food and beverages through its owned brands via online platforms (Swiggy, Zomato, EatFit app) and offline outlets.
Franchise & Royalty Income: Additional revenue from franchise agreements and royalty fees, especially as it expands offline presence.
Brand Acquisitions & Incubation: By acquiring and scaling emerging food brands, Curefoods increases its market share and diversifies its offerings, capturing value across multiple consumer segments.
Interest & Miscellaneous Income: Includes interest earnings and other non-operating income streams.
B2C: Direct-to-consumer sales through online food delivery platforms and offline outlets.
B2B: Partnerships with corporates, events, and institutions for bulk orders and catering services.
Market Expansion: Plans to scale to 1,000 locations (600 cloud kitchens, 350 QSRs/casual dining) across 50 cities in the next three years.
Brand Diversification: Continues to acquire and launch brands across different cuisines and price points to serve a broader customer base.
Technology Investment: Focus on innovation in kitchen automation, order management, and customer analytics to drive efficiency and quality.
Strategic Partnerships: Collaborations with established brands (e.g., Krispy Kreme) and food suppliers to enhance offerings and reach.
Profitability Focus: Targeting EBITDA profitability and a revenue run rate of ₹2,000 crore by FY27.
Curefoods is redefining India’s food services landscape with a scalable, technology-driven, multi-brand cloud kitchen and QSR model. By blending operational excellence, brand diversity, and digital innovation, Curefoods is well-positioned for sustained growth, profitability, and leadership in the rapidly evolving foodtech industry.
$175 million
13
$16.5Million, Series D
as of November 12, 2024
$451 million
as of N/A
2.73
as of N/A
Three State Capital
and 5 more632
Ghost Kitchens
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Date | Round Name | Amount | Valuation | Revenue | Revenue Multiple | Investors |
---|---|---|---|---|---|---|
November 12, 2024 | Series D | $16.5Million | $451.0Million | - | - | Iron Pillar, Chiratae Ventures, Shinhan Venture Investment, Shinhan Financial Group Landmark Group |
January 9, 2024 | Series D | $25.0Million | $72.5Million | - | - | RB Investments, Three State Capital , Curefoods India Welfare Trust |
October 12, 2023 | Series C | $589.0K | $97.0Million | $66.1Million | 1.5x | Brand Capital |
March 30, 2023 | Series C | $14.6Million | $306.0Million | $51.3Million | - | Three State Capital, Chiratae Ventures, FPGA Family Foundation |
February 10, 2023 | Series C | $7.5Million | $83.4Million | $48.1Million | - | Curefoods India Welfare Trust |
June 1, 2022 | Series C | $44.2Million | $246.0Million | $22.3Million | - | Rockstone Ventures, Iron Pillar, Chiratae Ventures, Sixteenth Street Capital, Accel, Three State Capital, Alteria Capital, Rukam Capital, Singularity Ventures, Potential Ventures, RB Investments, NB Ventures, Pivot Ventures , LetsVenture, Nava Limited |
November 30, 2021 | Series B | $53.3Million | $101.0Million | $8.5Million | - | Accel, Chiratae Ventures, Sixteenth Street Capital, Iron Pillar, Three State Capital Advisors, Rukam Capital, Brand Capital, Alteria Capital, Trifecta Capital, Ananth Sankaranarayanan Family Trust , Universal Trustee, Co Apex Fund and Corporate Mauritius, LetsVenture, BlackSoil |
August 25, 2021 | Series A | $13.0Million | $101.0Million | $5.4Million | 16.3x | Iron Pillar, Rukam Capital, Trifecta Capital, QED Innovation Labs , Nordstar, Global eCommerce Consolidation Fund, Allana, Napatree Capital, The Ski Bum |