 "Binny Bansal")
Cloud kitchen firm Curefoods has reportedly secured an additional $25 million (about Rs 207 crore) funding in its Series D round from Three State Ventures, a fund launched by Flipkart co-founder Binny Bansal.
The Ankit Nagori-led company had previously raised $36 million in the first tranche of Series D financing and is now valued at $375 million, as reported by Entrackr. With this latest infusion, Curefoods has raised a total funding of $155 million from investors, according to Tracxn.
The Bengaluru-based startup Curefoods competes with firms like Rebel Foods, Biryani by Kilo, and EatClub (formerly Box8). The firm houses brands like EatFit, Cakezone, Nomad Pizza, Sharief Bhai Biryani and Frozen Bottle among others.
It has over 200 cloud kitchens and offline stores that cater to over 10 cuisines, across 15 cities in India. Curefoods is the second-largest cloud kitchen player in India in terms of footprint with the largest manufacturing capability in the fresh food space.
Curefoods is also the second largest brand in terms of revenue, after Rebel Foods in the cloud kitchen space.
While Rebel Foods’ revenue from operations grew 39.2 per cent to Rs 1,195 crore in FY23, Curefoods reported Rs 384 crore in revenue, according to Entrackr. This was followed by EatClub with revenues exceeding Rs 300 crore in the same period. Biryani By Kilo also claims a revenue of around Rs 300 crore in the last fiscal year.
