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IPO · Commerce & Consumer Brands

Curefoods plans to raise ₹800 crore via IPO to expand kitchens and brands

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Date
Company
Curefoods
What it does
multi-brand food services company
Kind
IPO
Amount
Rs 800 crore
Stage
IPO
Based in
Bengaluru
Founded
2020
Sector
Commerce & Consumer Brands

What they do

Curefoods is a multi-brand food services company operating 502 service locations across 70 cities with 10 major brands like EatFit, Sharief Bhai Biryani,…

What happened

The company plans to raise ₹800 crore through an IPO, with a total expected size of ₹1,500 crore, including an offer for sale of shares by exiting shareholders

Why it matters

Funds will be used to expand into Tier II cities, add new kitchens, and support the international launch of Sharief Bhai Biryani in the UAE through delivery…

The details

  • Curefoods is planning to raise ₹800 crore through an IPO to fund its expansion, with a total expected IPO size of ₹1,500 crore.
  • The company operates 502 service locations across 70 cities, including 281 cloud kitchens, 99 kiosks, and 122 restaurants.
  • Curefoods will use ₹152.54 crore to set up new cloud kitchens, restaurants, kiosks, and Krispy Kreme Theatres by 2029.
  • It will also invest ₹91.96 crore in its subsidiary, Fan Hospitality Services, to acquire additional stake and set up new kitchens.
  • Curefoods plans to expand into Tier II cities and scale up operations using a hub-and-spoke model of central kitchens and cloud kitchens.
  • The company reported a 27% increase in revenue to ₹746 crore in FY25 and has seen total food orders grow from 11.38 million in FY23 to 18.23 million in FY25.

The bigger picture

  • Curefoods is using an asset-light, multi-brand model to reduce capital expenditure and operating costs compared to traditional quick-service restaurants.
  • The company's central kitchens can prepare up to 1 lakh meals per day and supply multiple brands under one roof, reducing underutilisation.
  • Curefoods uses AI for demand estimation, production planning, and logistics, along with geo-mapping tools to identify high-demand zones.
  • The company integrates new brands into its network in four to six weeks, allowing for quick expansion and optimization of locations.

About the business

  • Curefoods is a Bengaluru-based multi-brand food services company that builds and scales multiple F&B brands across healthy meals, biryani, pizza, desserts, and celebration cakes.
  • It operates a shared network of cloud kitchens and dine-in stores across India, with 10 major brands including EatFit, Sharief Bhai Biryani, Olio Pizza, and Krispy Kreme.
  • The company's business model is based on shared kitchen infrastructure, allowing for better unit economics and faster time-to-market for new brands.
  • Curefoods uses data-driven decision-making for menu, pricing, and kitchen placement to reduce delivery times and maintain food quality.

What happens next

  • Curefoods plans to expand into Tier II cities and scale up operations using a hub-and-spoke model of central kitchens and cloud kitchens.
  • The company will also expand the international presence of Sharief Bhai Biryani in the UAE through leading delivery platforms.

The deal

Type
ipo

Investors

  • Binny Bansal (investor) — Co-founder of Flipkart
  • Accel India (investor) — Venture capital firm
  • Iron Pillar (investor) — Venture capital firm
  • Alteri Capital Fund (investor) — Private equity firm

Founders

  • Ankit Nagori, founder

About Curefoods

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.

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