M&A
Cloud kitchen co Curefoods acquires majority stake in milkshake brand Frozen Bottle
Cloud kitchen startup Curefoods has acquired a majority stake in fellow Bengaluru-based milkshake brand Frozen Bottle. With the latest acquisition, the company aims to make Frozen Bottle a one-stop-shop in the milkshakes and dessert category and expand its portfolio to include a mix of Curefoods' snack brands. Started in 2017 by first-time entrepreneur Pranshul Yadav, Frozen Bottle has a presence in over 25 cities. It operates more than 110 outlets and offers a selection of signature thick shakes, milkshakes, and ice cream jars that are 100% vegetarian. Curefoods has acquired 20 food brands to date, including the likes of EatFit, YumLane, CakeZone, and Great Indian Khichdi. Earlier this year, the start-up raised USD 62 million in funding from Iron Pillar, Chiratae Ventures, Sixteenth Street Capital, Accel Partners and Flipkart co-founder Binny Bansal.
From the Venture Intelligence PE-VC Deal Database: Between Aug-21 and Jan-22, Curefoods raised $65-M from Iron Pillar, Accel India, Chiratae Ventures, Alteria Capital, BlackSoil Capital, Trifecta Capital, Nordstar, and others.
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