Curefoods, a cloud kitchen startup founded by Ankit Nagori, is seeking to raise $40 million in its Series D funding round to enhance its restaurant presence, acquire food brands, and expand into new markets like Dubai. This funding round is expected to include both primary and secondary share sales, valuing the company at approximately $500 million post-money.
As part of this funding, Curefit Healthcare Private Limited, also known as Cult Fit, is anticipated to sell its remaining 2% stake in Curefoods, marking a complete exit from its investment. In a secondary transaction, shares will be exchanged between investors, meaning no new capital will flow into the company. While details about new investors remain unclear, existing supporters, including Flipkart co-founder Binny Bansal, are likely to invest in the primary portion.
Curefoods is gearing up for its final funding round before going public in 2026, having begun discussions with bankers as part of this transition.
Founded in 2016, Curefoods operates popular food brands such as Eatfit, Sharief Bhai Biryani, Olio, Great Indian Khichdi, Rolls on Wheels, Nomad Pizza, CakeZone, Millet Express, Chaat Street, and Juno’s Pizza. Four of these brands—Olio, Eatfit, Cakezone, and Sharief Bhai Biryani—have already surpassed a revenue run rate of ₹100 crore. Notably, Nomad Pizza is close to reaching this milestone as well.
Curefoods aims to utilise the funds to bolster its offline operations and expand its brand portfolio, including a new venture into Mexican cuisine. This move comes at a time of heightened investor interest in food startups, as a younger demographic increasingly spends on online food orders and groceries.
In the competitive landscape, Curefoods contends with other major players like Rebel Foods, Biryani by Kilo, and EatClub, all of which are establishing their own houses of food brands. To date, Curefoods has raised around $200 million, reflecting its significant growth and the potential for further expansion in the thriving food delivery market.
