Curefoods raises ₹160 crore from Binny Bansal's 3State Ventures
Curefoods, the Bengaluru-based cloud kitchen startup, just raised ₹160 crore (about $18 million) from 3State Ventures—Flipkart co-founder Binny Bansal's investment arm.
This pre-IPO round comes as Curefoods gears up for a much bigger IPO in the coming months, targeting a total raise of ₹800 crore.
Curefoods's ambitious growth plans
Founded in 2016, Curefoods operates over 500 service locations across 70+ cities and manages food brands like EatFit, CakeZone, Nomad Pizza, Frozen Bottle, Sharief Bhai, and Krispy Kreme.
Their hub-and-spoke model—with five central kitchens and 13 warehouses—helps them deliver efficiently.
The IPO funds are set to fuel more expansion, support their subsidiary Fan Hospitality, pay down debt, and cover day-to-day operations.
Key financials and backers
Revenue: Jumped from ₹585.1 crore in FY24 to ₹745.8 crore in FY25
Losses: Slightly narrowed from ₹172.6 crore to ₹170 crore this year
Backers: Early investors include Iron Pillar, Chiratae Ventures, Accel, Crimson Winter & Curefit Healthcare