Gabriel Budi Sutrisno · · 1 min readCloud kitchen backed by Flipkart co-founder nets $50m in new round
Curefoods, an India-based cloud kitchen startup that has nearly 10 brands including Yumlane, EatFit, and CakeZone, has secured US$50 million in a series C round.
Photo credit: Curefoods
The names of the investors who participated in the fundraise were undisclosed. But Curefoods said that Ambit, a local financial solutions provider, acted as the exclusive financial advisor.
The startup previously raised over US$80 million in equity and venture debt across series A and B rounds. Its past investors include Iron Pillar and Binny Bansal, co-founder of Indian ecommerce player Flipkart.
Curefoods, which competes with Rebel Foods in India’s cloud kitchen space, will use the fresh funds to expand its existing brands and acquire new ones.
See also: Here are the top cloud kitchen operators in Southeast Asia
With over 100 cloud kitchens operating across the country, Curefoods said that it posted a 50% quarter-on-quarter growth over the last year.
The company aims to have 25 brands by mid-2022 after acquiring several direct-to-consumer food brands.
Editing by Samreen Ahmad and Joy Tirkey
(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.
