Funding · Commerce & Consumer Brands

Curefoods raises Rs 37 crore from Landmark Group

By Startup Enthusiast · 17 February 2025

What they do

Curefoods operates a network of cloud kitchens and owns several food delivery brands across India

The company raised Rs 37 crore from Landmark Group at an estimated valuation of $460 million

This follows the recent acquisition of Krispy Kreme operations in South and West India from the same investor

Curefoods has raised Rs 37 crore ($4.4M) from Landmark Group.
The investment values the company at approximately $460 million post-allotment.
Landmark Group acquired shares at an issue price of Rs 1,07,526 per share.
The investor holds a 0.96% stake with potential for increase via additional investments.
This funding round includes an expansion of the ESOP pool worth Rs 114 crore.
The total ESOP plan value is now around Rs 213 crore ($25M).
Landmark Group previously sold its Krispy Kreme South and West India operations to Curefoods.
The deal marks continued strategic alignment between the two entities.

Curefoods is building a house of food brands using shared infrastructure.
The company focuses on category depth rather than breadth in the food market.
It utilizes data-driven strategies for menu pricing and kitchen placement.
Recent acquisitions include YumLane Pizza and Millet Express in 2023.

Curefoods operates over 100 kitchens across 200 locations in 15 cities.
It runs more than 7 food factories and 150 multi-brand cloud kitchens.
Brands owned include EatFit, Sharief Bhai Biryani, and OLIO Asli Cheese Pizza.
Other brands include Arambam, Nomad Pizza, CakeZone, and Frozen Bottle.
Distribution happens via Swiggy, Zomato, dedicated apps, and dine-in stores.
Revenue grew 53% to Rs 585 crore in FY24 from Rs 382 crore.
Losses declined by 50% to Rs 172.6 crore due to lower advertising costs.
The model relies on shared cloud kitchen infrastructure for efficiency.
The company emphasizes data-driven decisions for operational optimization.

Landmark Group (lead) — Investor holding 0.96% stake with potential for increase.

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.