The board of Curefoods approved the share allotment on 10 September, and shareholder ratification followed on 15 September, in line with regulatory disclosure norms. The fresh capital will be integrated into the sizing of its planned public offering under issuers’ capital-raising regulations.
Founded by Bengaluru-based entrepreneur Ankit Nagori, Curefoods operates a portfolio of digitally native food brands via cloud kitchens, kiosks, restaurants and central kitchens. As of March 2025, its presence spans over 500 service locations across more than 70 cities, comprising 281 cloud kitchens, 99 kiosks, 122 restaurants and five central kitchens. The company also holds pan-India rights for Krispy Kreme.
Curefoods filed its draft red herring prospectus in June 2025, targeting to raise up to ₹800 crore through a mix of fresh issuance and offer‐for‐sale by existing shareholders. The proceeds are intended for expansion of kitchen infrastructure, debt reduction, investment in its subsidiary Fan Hospitality, and working capital needs.
Prior to this placement, 3State Ventures was already among Curefoods’ principal backers. Post allotment, the investor’s stake will be accounted for in the IPO structure under SEBI’s Issue of Capital and Disclosure Requirements framework.
Financially, Curefoods posted a revenue jump from ₹3820 crore in FY23 to ₹7458 crore in FY25, reflecting a compound annual growth near 40 %. However, it posted a net loss of approximately ₹170 crore in FY25, only marginally improved from its FY24 loss of ₹173 crore.
Industry observers interpret the infusion as a signal of investor confidence in the cloud kitchen sector, particularly as food delivery consolidates and consumer demand for convenience grows. Curefoods faces competition from established and emerging players such as Rebel Foods, EatClub and others.