Curefoods led strategic funding received by millet-based food brand Millet Express
A healthy millet-based food brand called Millet Express has received a strategic investment from cloud kitchen company Curefoods.
The three-year-old Millet Express restaurant serves both North and South Indian food made with millet. The Hyderabad-based startup intends to use the funding to market millet-based products to a larger audience. The business is currently developing healthy desserts and snacks.
In order to improve operations and broaden its market presence and product offerings on both its online and offline fronts, Millet Express also intends to make use of Curefoods.
EatFit, Yumlane, Aligarh House Biryani, Masalabox, and CakeZone are among the brands operated by Curefoods. It has more than 100 kitchens spread across 12 Indian cities. Curefoods raised Rs 300 crore ($36.5 million) in an equity and debt round in April of this year under the direction of Binny Bansal’s fund Three State Ventures.
Curefoods’ direct rivals are the Coatue-backed Rebel Foods and Box8, while its indirect rivals are a wide range of independent brands like Biryani Blues and Biryani by Kilo. During FY22, the company’s operating revenue totaled Rs 89.1 crore. According to regulatory filings, its losses for the fiscal year totaled Rs. 71.25 crore.
