Cloud kitchen company Curefoods has announced its strategic investment in Millet Express, a healthy millet-based food brand.
Three year old Millet Express offers millet-based South Indian cuisine as well as North Indian cuisine. The Hyderabad-based startup plans to use the investment to reach a wider audience for millet-based products. The company is now working on healthy snacks and desserts.
Millet Express also aims to leverage Curefoods to enhance its operations and expand its market presence and offerings to both its online and offline fronts.
Curefoods operates brands like EatFit, Yumlane, Aligarh House Biryani, Masalabox and CakeZone. It has over 100 kitchens across 12 cities in India. In April this year, Curefoods had raised Rs 300 crore ($36.5 million) in an equity and debt round led by Binny Bansal’s fund Three State Ventures.
Curefoods primarily competes with Coatue-backed Rebel Foods and Box8 whereas a host of independent brands such as Biryani Blues, Biryani by Kilo are its indirect competitors. The company recorded Rs 89.1 crore in revenue from operations during FY22. As per its regulatory filings, its losses stood at Rs 71.25 crore in the fiscal year.
