Cloud kitchen company Curefoods has raised its Series C round of $50 million from a mix of new and existing investors, according to investment advisory Ambit, which acted as the exclusive financial advisor.
While Ambit did not disclose the investors’ names, Curefoods’ regulatory filings note Iron Pillar, Accel, Chiratae Ventures, and Three State capital as the investors in this round, among others. The funds raised from the current round will be used by Curefoods for the expansion of existing brands into newer geographies and the acquisition of newer brands.
Curefoods’ currently operates brands like EatFit, Yumlane, Aligarh House Biryani, MasalaBox, Cakezone, Great Indian Khichdi, Ammis Biryani, Canteen Central, and Homeplate among others. Prior to this, Curefoods has raised over $80 million in equity and venture debt across Series A and B raises in 2021 and 2022, respectively. T
The company founded by Ankit Nagori, former Chief Business Officer of Flipkart, and co-founder of Cure.fit. Curefoods launched its operations in 2020 and now has over 150 kitchens catering over ten cuisines, across 15 cities in India.
Earlier this year, Curefoods merged with the Mumbai-based foodtech company Maverix. Following the merger, Curefoods added about 50 more outlets across Delhi, Mumbai, and Bengaluru increasing its market presence. Following this, in February, the cloud kitchen company acquired the South India franchise rights for the US-based legacy pizza chain - Sbarro. At that time, the company had announced plans to open around 50 Sbarro outlets in the next 3 years starting with Karnataka.
In April, Curefoods raised funding from Bollywood actor Varun Dhawan and inked a long-term association by making him the brand ambassador for EatFit – the largest brand under Curefoods. Curefoods operates on a house of brands approach and currently has 20 brands in its portfolio. The company competes with the likes of Rebel Foods and Box8.