Curefoods closes Rs 300 cr to diversify offline

NEW DELHI: Curefoods on Thursday announced it has closed a Rs 300 crore funding round, led by Binny Bansal’s fund with an investment of Rs 240 crore alone. The round, consisted of primary and secondary equity and debt, also saw participation from IronPillar, Chiratae Ventures, ASK Finance and Winter Capital. Curefoods said it aims to use the money to expand its geographical reach and diversify its brands into offline formats, from the current online-only cloud kitchen presence. “Our investors are aligned to our long-term goal of creating multiple 500 crore brands,” said Ankit Nagori, founder, Curefoods. Curefoods said it is poised to achieve ARR of Rs 1,000 crore by the end of 2023. In the same period, the brand also plans to open 50 more locations with an aim of managing two million orders a month.