Curefoods, a cloud kitchen firm located in India with over 10 brands, including Yumlane, EatFit, and CakeZone, has raised $50 million in a Series C financing.
The names of the investors who took part in the fundraising remained anonymous. Curefoods, on the other hand, claimed that Ambit, a local financial solutions company, was the sole financial advisor.
Over $80 million in equity and venture debt were previously raised by the company in series A and B rounds. Iron Pillar and Binny Bansal, the co-founder of Indian e-commerce giant Flipkart, have both invested in the company in the past.
Curefoods, which competes with Rebel Foods in India’s cloud kitchen industry, plans to utilise the new capital to grow and acquire current brands.
Curefoods reported a 50 percent quarter-on-quarter growth in the previous year, with over 100 cloud kitchens operating around the country.
After purchasing many direct-to-consumer food companies, the company hopes to have 25 brands by mid-2022.
