Funding Alert

Bollywood celebrity Nora Fatehi invests in Ankit Nagori’s Curefoods

• ByStartupStory     |    July 26, 2022

Nora Fatehi, a Bollywood actress, has invested an unknown sum in cloud kitchen company Curefoods. Fatehi has also been the brand spokesperson for Curefoods’ CakeZone. Fatehi hopes to take CakeZone to other cities as a result of the brand endorsement, matching its expansion objectives of opening 125 outlets by the end of 2022.

 “I truly believe in CureFoods‘ promise, and I’m happy to invest in them and support CakeZone. We aspire to leave an indelible mark on people’s lives and palates,” Nora Fatehi remarked. Curefoods has received support from a Bollywood star for the second time. Before that, Varun Dhawan, a Bollywood actor, made an unannounced fund in the cloud kitchen aggregator and became a brand ambassador for its spin-off firm, EatFit.

Curefoods, founded in 2020 by Ankit Nagori, is home to several companies, notably EatFit, Sharief Bhai, Aligarh House Biryani, and CakeZone. It runs over 150 cloud kitchens in Fifteen Indian cities. “Having Nora as a Curefoods investor is a close integration and association with her.” Her faith in our ability motivates us to reach new heights,” remarked Ankit Nagori.

Curefoods has also recently collaborated with Hrithik Roshan’s HRX. According to the firm, it is also trying to expand in India, particularly in the North Indian region. Curefoods received $50 million in Series C fundraising from a group of investors in June. It raised approximately $80 million in equity and venture loans throughout its Series A and Series B fundraising rounds.

It purchased five D2C food brands earlier this year and said at the time that it will acquire a total of 35 brands by the end of the current year 2022. According to Tofler’s report, it recorded income from operations of INR 1.96 Cr and consolidated losses of INR 1.33 Cr in the fiscal year 2021.

Rebel Foods, which operates over 450 cloud kitchens around the country, competes with it in the cloud kitchen category.  According to research, India’s cloud kitchen market is expected to reach $2.5 billion by 2028, rising at a CAGR of 17.5% between 2024 and 2028.

Follow Startup Story