Funding · Commerce & Consumer Brands

Binny Bansal may invest another $25-30 million in Curefoods

By Startup Enthusiast · 31 October 2023

What they do

Curefoods operates over 200 cloud kitchens and offline stores across 15 Indian cities

Flipkart co-founder Binny Bansal is likely to invest $25-30 million more, potentially bringing his total to ~$50 million

Bansal currently owns about 12% of Curefoods, and the deal follows a Rs 240 crore round in April 2023

Curefoods is a house of food brands that operates cloud kitchens and offline stores.
Binny Bansal, co-founder of Flipkart, may invest an additional $25-30 million in Curefoods.
If the deal closes, Bansal's total investment in Curefoods would reach about $50 million.
Bansal currently owns ~12% of Curefoods.
In April 2023, Curefoods closed a Rs 240 crore round led by Bansal's Three State Ventures, comprising both primary and secondary share sales.
Curefoods has acquired Yumlane, a foodtech company with proprietary pizza technology, for an undisclosed sum.
Earlier in 2021, Curefoods bought Yumlane Pizza cloud kitchen's franchisee rights for South India, and in 2022 purchased a 10% stake in Yumlane.

Binny Bansal is a prominent Indian entrepreneur who fully exited Flipkart in August 2023 and now writes large personal cheques in startups like PhonePe and Curefoods.
Rajnish Baweja, a key executive at Three State Ventures and an IIT Delhi alumnus, reviews proposals for Bansal.
The acquisition of Yumlane gives Curefoods proprietary pizza technology and a distribution network across 15 cities.

Curefoods is headquartered in Bengaluru and was founded in 2020 by Ankit Nagori.
It operates over 200 cloud kitchens and offline stores across 15 cities in India.
The company's brand portfolio includes Eatfit, Sharief Bhai, Olio Pizza, Arambam, Nomad Pizza, CakeZone, Frozen Bottle, and Krispy Kreme.

Curefoods plans to use the additional investment to expand its brand portfolio and infrastructure.
The company may also integrate Yumlane's pizza technology into its operations.

Binny Bansal (lead) — Co-founder of Flipkart, exited Flipkart fully in August 2023, invests via personal cheques.

Product: cloud kitchen firm
Customers: Consumers ordering prepared food through delivery and dining channels.
How it makes money: Sells branded food through its kitchen and delivery network.
What sets it apart: Portfolio across multiple popular food brands and formats.