Curefoods Raises $6.6 Million in Debt from BlackSoil Group to Fuel Expansion
- ByStartupStory | March 25, 2025
Cloud kitchen house of brands Curefoods has raised $6.6 million (INR 56.4 crore) in debt funding from BlackSoil Group, along with participation from Flipkart co-founder Binny Bansal and Caspian Investments. The development was first reported by Entrackr.
According to the startup’s filings with the Registrar of Companies (RoC), Curefoods issued 800 Series D debentures to BlackSoil, raising INR 40 crore. Additionally, the company offered 200 debentures to Caspian Investments, raising INR 10 crore. Longtime backer Binny Bansal and Jitendra Kumar Bansal jointly contributed INR 6.39 crore through the purchase of 595 Series D1 Compulsorily Convertible Cumulative Preference Shares (CCCPS).
Curefoods’ Expanding Portfolio and Growth Plans
Curefoods operates a range of popular food brands, including Nomad Pizza, Olio Pizza, and Sharief Bhai Biryani. The company also acquired the South and West operations of Krispy Kreme, further strengthening its market presence.
According to media reports, Curefoods is on track to achieve INR 900 crore in revenue in the current financial year, reflecting a 50% growth from FY24. The company’s previous funding round in 2023 raised INR 300 crore ($36 million), led by Binny Bansal’s venture capital firm Three State Ventures, along with participation from IronPillar, Chiratae Ventures, ASK Finance, and Winter Capital. That round was a mix of primary and secondary infusion.
Competitive Landscape
The cloud kitchen sector continues to witness significant investment activity. In December last year, Curefoods’ competitor Rebel Foods secured $210 million in a funding round led by Temasek and Evolvence. This highlights the intensifying competition and growing investor interest in the space.
About Curefoods
Founded in 2020 by Ankit Nagori, Curefoods is one of India’s leading cloud kitchen companies, managing multiple brands across various cuisines. The company’s focus on acquisitions and strategic expansion has positioned it as a key player in the rapidly growing food-tech industry.
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