Curefoods, the fast-growing cloud kitchen startup, just got a massive vote of confidence from Binny Bansal’s 3State Ventures, raising Rs 160 crore ($18 million) in a pre-IPO placement. With this move, the company is all set to make its IPO one of the hottest listings in India’s foodtech space.
Huge Growth and IPO Plans
The Bengaluru-based startup filed its draft red herring prospectus (DRHP) in June, aiming to raise Rs 800 crore through a fresh issue and an offer-for-sale (OFS) of 4.08 crore shares from early investors. This pre-IPO funding from Binny Bansal is expected to shrink the fresh issue, making the IPO even more attractive to investors.
Founder and CEO Ankit Nagori will not sell his shares, signaling his confidence in Curefoods’ long-term growth potential.
Multi-Brand Cloud Kitchen Powerhouse
Curefoods operates over 500 service locations across 70+ cities and has expanded internationally to the UAE. Its multi-brand portfolio includes:
- EatFit – healthy meals
- CakeZone – desserts and cakes
- Nomad Pizza – pizza and fast food
- Frozen Bottle – shakes and beverages
- Sharief Bhai – Indian cuisine
- Krispy Kreme – international donuts
With this diverse lineup, Curefoods is redefining cloud kitchens in India.
Financials That Impress
The company closed FY25 with Rs 745.8 crore in revenue, up from Rs 585.1 crore in FY24, while losses narrowed to Rs 170 crore. Investors are watching closely, as the pre-IPO placement shows strong confidence in Curefoods’ growth and profitability.
“Securing funding from 3State Ventures validates our growth story and demonstrates investor trust as we prepare for our IPO,” said Ankit Nagori.
Why Investors Are Excited
Binny Bansal’s backing isn’t just about money—it’s about strategic validation. Curefoods is using the fresh capital to:
- Expand cloud kitchens, restaurants, and central kitchens
- Invest in subsidiary Fan Hospitality
- Repay debt and cover working capital
With a multi-brand strategy and a rapidly scaling network, Curefoods is well-positioned to dominate the Indian foodtech and cloud kitchen market.
What This Means for You
For investors and foodtech enthusiasts, Curefoods’ pre-IPO funding signals a high-growth company ready to make a splash in the stock market. With Binny Bansal on board, the startup is not just delivering food—it’s delivering massive investor confidence and market excitement.
