Curefoods is a cloud kitchen startup that offers on-demand food dishes with quality. The startup secured Rs 80 crore in its ongoing debt funding round from Binny Bansal and Jitender Kumar Bansal. This marks the second fundraising round for the firm in the past six months. The startup plans to use these fresh proceeds to fuel business growth, improve its platform, expand its network, and meet general corporate purposes.
The startup data intelligence platform, thekredible mentioned that the company has secured around 200 million USD across multiple funding rounds since its inception, including the $25 million raised during its series D funding round from three ventures, three state capitals, and curefoods India welfare. The startup manages and develops food brands and products including restaurants and chain QSRs. The moneycontrol report showed that the startup plans for $40 million fundraising as a part of its series D round in a mix of primary and secondary transactions. The company is expected to reach a valuation of 500 million USD.
The startup intends to use this investment to improve its offerings while strengthening its market presence for better customer reach. The startup leverages cloud kitchen platforms and manages the food business. Curefiods offers a variety of foods including cakes, pizza, biryani, ice creams, and more. The company operates brands such as YumLans, EatFit, CakeZone, Masalabox, and Aligarh House Biryani. Entrackr reported. The startup offers its services across 15 cities with over 100 kitchens in 200 locations. The company provides over 7 food factories and 150 multi-brand cloud kitchens in these locations. Curefoods faces competition from other cloud kitchen platforms including Rebel Foods, Freshmenu, Potful, Biryani By Kilo, TFC, and more.
The company recently acquired two brands namely YumLane Pizza and Millet Express to increase its customer base. Curefoods also invested around Rs 10 crore in a social media platform Hoger that enables users to discover food and restaurants online. The development came just after the cloud kitchen platform saw increased investor interest. Curefoods emerged as the second largest player in this sector following Rebel Foods. The startup reported a revenue of Rs 384 crore in FY23. However, its biggest competitor Rebel Foods posted an operating revenue of Rs 1,420 crore in FY24. This investment shows the investor’s trust in Curefood’s market potential and business model.
Conclusion :
Curefoods is a cloud kitchen platform that raised $9.6 million in its debt funding round from the participation of Jitender Kumar Bansal and Binny Bansal. The company intends to use this fresh capital to improve its online platform, scale its operations, and meet general corporate purposes. The startup has secured around 191 million USD across 13 funding rounds since its inception.
This cloud kitchen platform manages food brands and products including restaurants and Chain QSRs. The company provides services in 15 cities with 100 kitchens, 7 food factories, and 150 multi-brand cloud kitchens across 200 locations. Curefood posted a revenue of Rs 384 crore in FY23 and it competes with cloud kitchen platforms like Rebel Foods, EatClub, and Biryani By Kilo.
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