Total amount raised
$293.4 Millions
Latest funding date
Location
Curefoods has successfully raised Rs 300 crore in funding, led by Binny Bansal's Three State Ventures. The company operates a cloud kitchen platform that partners with smaller food brands to offer a variety of cuisines.
Keep reading to explore the intricacies of Curefoods' fundraising journey and the investors backing this innovative platform.
What Is Curefoods?
Curefoods, founded in 2016 by Ankit Nagori, is headquartered in Bengaluru, Karnataka, India. The company specializes in operating cloud kitchens and partnering with smaller food brands to offer a diverse range of cuisines.
With a workforce of 501-1000 employees, Curefoods manages a portfolio of brands including EatFit, Yumlane, and MasalaBox. Their mission is to democratize access to good food through sustainable practices and innovative technology.
By leveraging deep tech and large commercial kitchens, Curefoods aims to create a scalable and efficient food ecosystem. Their focus on consumer insights and brand incubation has positioned them as a leader in the cloud kitchen industry.
How Much Funding Has Curefoods Raised?
- Funding Round on Aug 24, 2021
- Amount Raised: ₹964M
- Date: August 2021
- Lead Investors: Iron Pillar
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To expand their cloud kitchen operations and enhance technological capabilities.
- Funding Round on Sep 30, 2021
- Amount Raised: $48.1M
- Date: September 2021
- Lead Investors: Trifecta Capital
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To scale operations and enter new markets.
- Funding Round on Oct 22, 2021
- Amount Raised: $10M
- Date: October 2021
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To support working capital needs.
- Funding Round on Jan 12, 2022
- Amount Raised: $52M
- Date: January 2022
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To expand their brand portfolio and enhance delivery infrastructure.
- Funding Round on Jan 12, 2022
- Amount Raised: $10M
- Date: January 2022
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To support operational expenses and growth initiatives.
- Funding Round on Apr 6, 2022
- Amount Raised: Not publicly disclosed
- Date: April 2022
- Lead Investors: Varun Dhawan
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To leverage celebrity endorsement for brand visibility.
- Funding Round on May 16, 2022
- Amount Raised: Not publicly disclosed
- Date: May 2022
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To expand their market reach and product offerings.
- Funding Round on Jun 1, 2022
- Amount Raised: $50M
- Date: June 2022
- Lead Investors: Winter Capital
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To scale operations and enhance technological infrastructure.
- Funding Round on Jul 26, 2022
- Amount Raised: Not publicly disclosed
- Date: July 2022
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To support business expansion and new initiatives.
- Funding Round on Apr 6, 2023
- Amount Raised: ₹3B
- Date: April 2023
- Lead Investors: Three State Capital
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To expand their cloud kitchen network and enhance service offerings.
- Funding Round on Apr 6, 2023
- Amount Raised: Not publicly disclosed
- Date: April 2023
- Lead Investors: Three State Capital
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To support operational growth and new market entries.
- Funding Round on Mar 18, 2024
- Amount Raised: ₹2B
- Date: March 2024
- Lead Investors: Three State Capital
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To enhance technological capabilities and expand their brand portfolio.
- Funding Round on Sep 27, 2024
- Amount Raised: ₹800M
- Date: September 2024
- Lead Investors: Binny Bansal, Jitender Kumar Bansal
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To support new market entries and operational growth.
- Funding Round on Dec 18, 2024
- Amount Raised: $40M
- Date: December 2024
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To strengthen their position in the F&B sector and support new offline expansions.
Total Amount Raised: $210.1M
Current Valuation: Not publicly disclosed
Key Investors
- Binny Bansal
- Details: Co-founder of Flipkart, a major e-commerce platform in India. He has been a significant figure in the Indian startup ecosystem.
- Investment Focus Areas: Technology startups, e-commerce, consumer internet.
- Notable Investments: Flipkart, Curefoods, Acko.
- Iron Pillar
- Details: A venture capital firm that invests in mid-stage technology companies. They focus on helping companies scale and achieve significant growth.
- Investment Focus Areas: Technology, consumer internet, enterprise software.
- Notable Investments: FreshToHome, Uniphore, Curefoods.
- Chiratae Ventures
- Details: A venture capital firm that focuses on early to growth-stage investments. They have a strong presence in the Indian startup ecosystem.
- Investment Focus Areas: Technology, healthcare, consumer products.
- Notable Investments: Myntra, Lenskart, Curefoods.
- Three State Ventures
- Details: An investment firm that has been actively involved in funding Curefoods. They have participated in multiple funding rounds for the company.
- Investment Focus Areas: Not publicly disclosed.
- Notable Investments: Curefoods.
- Winter Capital
- Details: A private equity firm that invests in high-growth companies. They focus on providing strategic support to their portfolio companies.
- Investment Focus Areas: Technology, healthcare, financial services.
- Notable Investments: Curefoods, Ozon, Kaspi.kz.
What's Next for Curefoods?
With the recent $40 million Series D funding, Curefoods is poised to expand its offline stores and launch operations in the UAE. This move not only strengthens its position in the F&B sector but also opens up new markets, offering significant growth potential.
Future fundraising opportunities seem promising, given the continued support from existing investors and the entry of new ones like Shinhan Group and Landmark Group. However, Curefoods will need to navigate challenges such as intense competition and maintaining quality across multiple locations.
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