Curefoods plans ₹800cr IPO to expand cloud-kitchen and other networks
What's the story
Curefoods, India's second-largest internet-driven multi-brand food services company, is gearing up for an initial public offering (IPO) to raise ₹800 crore. The offer comprises a combination of fresh equity and an offer for sale of 4.85 crore shares. The company has a strong network of 502 service locations across 70 cities and towns in India.
Infrastructure
Curefoods' operational network
Curefoods' operational network comprises 281 cloud kitchens, 99 kiosks, and 122 restaurants. At the core of this network are five large central kitchens that can prepare up to one lakh meals a day. Ankit Nagori, the founder of Curefoods, said their infrastructure is designed for rapid market entry and precise management with well-connected and scalable central kitchens and ordering systems.
Business strategy
Revolutionizing India's cloud-kitchen market
Curefoods is revolutionizing India's cloud-kitchen market with its asset-light, multi-brand model. Each central kitchen caters to multiple brands under one roof, including EatFit and Millet Express for healthy food, CakeZone and Frozen Bottle for desserts, Olio Pizza, Nomad Pizza, Sharief Bhai Biryani, Rolls on Wheels, and Krispy Kreme franchise. This diversity ensures that kitchens operate across meal slots and avoid underutilization.
Cost benefits
Cost advantages of cloud kitchens
Cloud kitchens usually require 20-30% lower capital expenditure than quick-service restaurants and operate at 30-40% lower running costs. This is because they can be located in low-rent, delivery-optimized areas. Curefoods' modular kitchens allow new brands to be integrated into existing sites without major reconfiguration, thereby reducing time-to-market and enhancing operational efficiency.
Tech integration
Leveraging technology for efficiency
Curefoods leverages artificial intelligence (AI) to predict demand, plan production, and fine-tune logistics. Geo-mapping tools are used to identify high-demand zones based on population density and order patterns. Data from delivery partners helps determine the best cuisines for specific micro-markets. Specialized SaaS platforms manage critical functions of the business, making it more efficient and responsive to market needs.