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Curefoods raises $62 Mn from Iron Pillar, Chiratae and others

Cloud kitchen company Curefoods has raised $62 million in a fresh round from Iron Pillar, Chiratae Ventures, Sixteenth Street Capital, Accel Partners and Binny Bansal participated in the round. This also includes $10 million in debt financing from Alteria Capital, BlackSoil Capital and Trifecta Capital.

Within six months, the Bengaluru-based company raised two rounds including a $13 million Series A round led by Iron Pillar in August last year.

Curefoods plans on utilising the investment to continue acquiring major cloud kitchen brands across the country, said the company in a press release. Additionally, the company aims to expand its multi-brand kitchens across the country and build a D2C platform for all its brands.

Started in 2020, Curefoods operates brands like EatFit, Yumlane, Aligarh House Biryani, Masalabox and CakeZone. It has over 100 kitchens across 12 cities in India. 

In October 2020, health and fitness company Curefit announced to hive off its cloud kitchen vertical EatFit [under Curefoods] to work as a separate entity. Before starting the separate vertical Ankit Nagori had 7.6% stake in Curefit, however, Nagori increased his ownership in EatFit to 70-80% as part of an equity swap deal.

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