Samreen Ahmad · · 1 min readFlipkart co-founder joins $62m round of 🇮🇳 cloud kitchen firm
Curefoods, an India-based cloud kitchen startup, has raised US$62 million from Iron Pillar, Chiratae Ventures, and others.
Photo credit: warrengoldswain / 123RF.
While the firm received US$52 million in equity funding, US$10 million came via debt financing.
Curefoods will use the fresh funds to continue to buy major cloud kitchen brands across the country after recently acquiring five direct-to-consumer food brands.
Additionally, the company aims to further expand its network of multibrand kitchens across the country and build a D2C platform for all its brands.
The company runs over 100 cloud kitchens nationwide and said it had witnessed a quarter-on-quarter growth of 50% over the last one year.
The company competes with Rebel Foods, which became a unicorn last year following a US$175 million raise.
Other investors in the round include
- Sixteenth Street Capital
- Accel Partners
- Binny Bansal, co-founder, Flipkart
- Alteria Capital
- BlackSoil Capital
- Trifecta Capital
See also: Cloud kitchen operator plots aggressive SEA expansion with unique approach
Editing by Collin Furtado and Arpit Nayak
(And yes, we’re serious about ethics and transparency. More information here.)
Stay updated on the go with our mobile app.
Get latest insights with smoother, more personalized experience through TIA mobile app.
