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Curefoods Raises $13 Million Funding From Iron Pillar, Binny Bansal, Others

Aug 25, 2021•about 4 years ago

Amount Raised

$13 Million

Description

Curefoods, which operates the cloud kitchen brand EatFit, on Wednesday said it has raised $13 million (about Rs 96.4 crore) in funding, led by Iron Pillar. The series A round also saw participation from Nordstar and Flipkart co-founder Binny Bansal, a statement said.

Company Information

Company

Curefoods

About

While $52 million came in equity funding, $10 million came in debt financing from Alteria Capital, BlackSoil Capital and Trifecta Capital, the company said in a statement. Additionally, the company expects to make further inroads by geographically expanding its multi-brand kitchens across the country, and building a direct-to-consumer (D2C) platform for all its brands, it added. The company also plans to have a presence across 20 cities with 200 locations. The company owns multiple brands and runs over 100 cloud kitchens nationwide. In a statement, Curefoods said it plans on utilising the investment to continue acquiring major cloud kitchen brands across the country. With these additions, Curefoods claims to have more than 20 brands in its portfolio and is looking to house a total of 25 brands by mid-2022.

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