Curefoods
Overview
Curefoods is a prominent multi-brand cloud kitchen and food services company, recognized for innovating the food delivery ecosystem in India. Founded in 2020 by Ankit Nagori, a former Flipkart executive, Curefoods has established itself as a leading player in the cloud kitchen market, diversifying across a range of cuisines and dining formats. The company is headquartered in Bengaluru, India, and has garnered significant attention for its rapid expansion and strategic acquisitions, supported by substantial investments from notable backers, including Binny Bansal's Three State Ventures, Accel, Chiratae Ventures, and Iron Pillar. Curefoods has raised over $253 million in funding, underlining its substantial growth trajectory.
Recent Developments
- June 2025: Curefoods officially filed its Draft Red Herring Prospectus (DRHP) with SEBI, aiming to raise Rs 800 crore through an IPO featuring both a fresh issue and an offer for sale consisting of 4.85 crore equity shares. Major shareholders like Iron Pillar and Chiratae Ventures are set to partially offload stake through this offering.
- May 2025: In preparation for its IPO, Curefoods transitioned from a private limited company to a public limited company, receiving shareholder approval to be renamed 'Curefoods India Limited.'
- March 2025: The company secured $6.6 million in debt from BlackSoil, further funding its expansion efforts.
- May 2025: Ankit Nagori-led Curefoods acquired pan-India rights for Krispy Kreme, marking a significant addition to its brand portfolio. The acquisition included tapping into the northern markets by acquiring outlets across Delhi NCR.
- April 2025: Curefoods announced plans to focus on expanding Krispy Kreme's presence with plans to open additional outlets and cloud kitchens to enhance its footprint in India.
- Early 2025: Curefoods expanded internationally, launching the Sharief Bhai outlet in Dubai, marking its first overseas presence. The expansion aims to introduce authentic Dakhni cuisine to a new audience in the UAE.
- 2024: The company reported significant financial growth with a revenue increase to Rs 756 crore for the fiscal year, demonstrating robust performance despite broader economic pressures.
Company Information
| Attribute | Information |
|---|---|
| Founding Date | 2020 |
| Headquarters | Bengaluru, India |
| Founders | Ankit Nagori |
| Revenue | ₹746 crore (FY25) |
| Profits | Presently operates at a net loss of ₹170 crore (FY25) |
| Key Investors | Three State Ventures, Accel, Iron Pillar, Chiratae Ventures |
| Industry | Cloud Kitchens, Food Services |
| Number of Employees | 3,156 as of May 2025 |
Early History
Established in 2020 by Ankit Nagori, Curefoods was conceptualized as a forward-thinking venture to capitalize on the burgeoning cloud kitchen market in India. The premise was to democratize access to high-quality food by leveraging technology-driven kitchen operations and an expansive delivery network. Initially launched as a spinoff from EatFit, Curefoods quickly gathered momentum by acquiring and nurturing diverse food brands across various culinary spaces. The COVID-19 pandemic catalyzed its growth, as demand for delivery over dine-in increased, allowing Curefoods to optimize its operational capacity and venture into several metropolitan and non-metropolitan markets.
Company Profile and Achievements
Curefoods has built its reputation on a multi-brand strategy that incorporates a wide range of food categories, from pizza and biryani to health-focused meals. This approach is designed to cater to varied consumer tastes, leveraging the efficiency of cloud kitchens. The company operates significant brands like EatFit, CakeZone, Nomad Pizza, Sharief Bhai Biryani, and the recently acquired Krispy Kreme franchise.
- 2021-22: The company witnessed aggressive growth through a series of strategic acquisitions, extending its brand portfolio and bolstering its market presence.
- 2023-24: Curefoods recorded a substantial increase in operational revenue, with a compound annual growth rate (CAGR) exceeding 35%, underscoring its successful expansion strategy.
- 2025: Positioned for an IPO, Curefoods is expected to raise between ₹1,400 crore to ₹1,500 crore, marking a significant capital event aimed at further scaling operations both domestically and internationally.
Current Operations and Market Position
Currently, Curefoods operates over 500 cloud kitchens and has a strong presence across more than 70 cities in India, making it a formidable player in the fast-growing food services sector. The company's strategic investments in technology and innovation, particularly in enhancing its delivery platform, position it well against competitors like Rebel Foods. With an adept management team and robust investor backing, Curefoods is effectively scaling operations to maintain a competitive edge in market share and customer reach.
Conclusion
Curefoods stands as a pivotal player in India's dynamic food services industry, showcasing an innovative approach through its cloud kitchen model. The company's strategic focus on acquisitions, geographic expansion, and brand diversification underscores its commitment to delivering superior dining experiences. As it moves towards a public listing, Curefoods aims to leverage new capital to enhance market share and operational efficiency, with future prospects pointing towards continued growth and industry leadership. The potential success of its IPO will likely pave the way for further strategic initiatives, solidifying its position as a leader in India's burgeoning food delivery market.