PE Fund Investments
Cloud kitchen startup Curefoods raises Rs.37-Cr from Landmark Group
Bengaluru-based cloud kitchen startup Curefoods has raised INR 37 crore (around USD 4.4 million) from Landmark Group, as part of the company’s ongoing USD 40 million fundraising round. Post investment, Landmark Group will retain a 0.96% stake in the company.Founded in 2020 by Ankit Nagori, Curefoods operates a portfolio of brands including EatFit, CakeZone, Nomad Pizza, Sharief Bhai Biryani, and Frozen Bottle. It currently operates over 100 kitchens across 15 cities serviced by a backend operation of over 7 food factories, and 150 multi-brand cloud kitchens.The company had a 53% year-on-year growth in its revenue to INR 585 crore in FY24 from INR 382 crore in FY23. It saw a sharp decline in losses by 50% to INR 172.6 crore in the same period.
Between Aug 2021 and Sep 2024, Curefoods had raised about USD 191.28 M from Iron Pillar, Nordstar, Rukam Capital, Trifecta Capital, and others.For FY24, Curefoods had reported about INR 585.12 Cr in Operating Income and about INR 172.61 Cr in Net Loss.
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