Bengaluru-based cloud kitchen startup Curefoods is set to raise ₹56.4 crore ($6.6 million) in debt financing, with BlackSoil Group leading the round and Binny Bansal participating as an existing investor. This marks the company’s first debt round of the year.
As per regulatory filings, Curefoods’ board has approved a special resolution to issue 1,000 non-convertible debentures (NCDs) at ₹5 lakh each to BlackSoil, amounting to ₹50 crore. Additionally, the company will issue 595 compulsory convertible debentures (CCDs) to Binny Bansal, totaling ₹6.4 crore. The funds will be used to support working capital needs and business expansion.
Curefoods, founded by Ankit Nagori, operates a cloud kitchen network with brands like EatFit, Sharief Bhai, Olio Pizza, Krispy Kreme, and Nomad Pizza. It currently runs 100+ kitchens across 200+ locations in India.
The company has previously secured $125 million in funding from investors including Three State Capital, Iron Pillar, and Chiratae Ventures. In February, it raised an additional ₹37 crore from Landmark Group.
Curefoods reported a 50% increase in operating revenue, reaching ₹585 crore in FY24, while cutting losses by half to ₹172.6 crore. The firm is eyeing a $300–400 million IPO by FY26.
Leave a Reply