Curefoods, which operates the cloud kitchen brand EatFit has raised $13 million Series A fundraise.
Iron Pillar led the round with participation from Nordstar and Binny Bansal. Leading angels Adil Allana, Rashmi Kwatra, Lydia Jett, and Kunal Shah also participated in the round.
With this, Curefoods has in total raised $20 million between Seed and Series A.
The brand is also looking to close a $10 million debt raise in the coming weeks.
“Online food delivery in India is highly fragmented with almost no Indian-origin brands amongst the top ten across the country. In the next decade, there is an opportunity to build and incubate brands across cuisines with meaningful scale. There will be multiple $50Mn brands in the future in the online delivery space and we believe we are in a great position to build, acquire, and own many of them,” said Ankit Nagori, Founder at Curefoods.
Curefoods has been acquiring and incubating multiple cloud kitchen brands in the last few months. The fresh influx of funds will be used to acquire many more digital food brands across geographies.
Curefoods is also looking to expand its cloud kitchen footprint across multiple cities and build backend technology to manage its multi-brand, multi-city kitchens footprint.
“Online food delivery is a space which saw a significant long term positive shift in adoption over the last 18 months. Globally, many very large food businesses are created over time through roll up of food brands. We believe that the same can be replicated in India today, with online delivery providing the distribution depth and efficiency,” added Anand Prasanna, Managing Partner at Iron Pillar.
Today, Curefoods is a leading cloud kitchens operator in India. Started in 2020 by Ankit Nagori, today it operates brands like EatFit, Yumlane, Aligarh House Biryani, and Masalabox. It has over 25 kitchens across four cities in India.
