Curefoods merges with rival Maverix to create cloud-kitchen giant
- ByStartupStory | February 5, 2022
Curefoods, one of the fastest growing cloud kitchen startups in India, has merged with rival Maverix whose backers include Accel Partners, Swiggy and Zephyr. Mumbai-based Maverix owns 3 popular cloud kitchen brands and operates over 50 retailers throughout Delhi, Mumbai, and Bengaluru. Its manufacturers encompass Great Indian Khichdi – one in all India’s largest khichdi manufacturers, Canteen Central – a multi-cuisine quick snack brand and Home Plate – a low priced home food imparting. All these brands and shops can be absorbed into Curefoods, making it considered one of the biggest cloud kitchen players inside the united states of america.
People acquainted with the deal revealed that after the transaction, the Bengaluru-primarily based startup might be worth approximately Rs 2,one hundred crore (US$280 million).
Ankit Nagori, founder at Curefoods stated: “Maverix is one such organization with vast experience and market knowledge and has additionally created stellar food manufacturers which might be identified and loved in key markets. We have the largest manufacturing functionality inside the sparkling food area. We are confident that our combined increase and more potent-than-ever platform will numerously gain our customers on their quest for the great food alternatives in India.” Maverix co-founders Shripad Nadkarni and Shree Bharambe take on key roles at Curefoods, in keeping with a statement from Curefoods.
Earlier this month, Curefoods had raised $sixty two million, from Iron Pillar, Chiratae Ventures, Sixteenth Street Capital, Accel Partners and Flipkart cofounder Binny Bansal. It is in talks to elevate any other $50-75 million, which may also close inside the following few months, because it appears to strengthen its brand portfolio, resources noted earlier stated.
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