Bengaluru-based cloud kitchen company Curefoods has raised INR 160 crore (about $18 million) in a pre-IPO funding round from 3State Ventures, led by Flipkart co-founder Binny Bansal.
The company said its board and shareholders recently approved giving 1.28 crore new shares to 3State Ventures at ₹124 per share. Before this investment, 3State Ventures already owned 17.3% of Curefoods, making it the second-largest shareholder after the founder, Ankit Nagori.
Founded in 2020 by Ankit Nagori, Curefoods runs several popular brands, including EatFit, Cake Zone, Nomad Pizza, Frozen Bottle, and Sharief Bhai Biryani.
The company earns most of its revenue from food sales, which are supported by kiosks and physical restaurant locations.
In June, Curefoods filed its DRHP to go public, planning a fresh issue of shares worth up to INR 800 crore (around $104 million).
The IPO also includes an Offer for Sale (OFS) of up to 4.85 crore shares by existing investors such as Iron Pillar PCC, Crimson Winter, Accel India V (Mauritius), and Chiratae Ventures.
The company also said it may raise a pre-IPO round, which would reduce the fresh issue size if it happens.
Curefoods earned ₹746 crore in revenue from operations in FY25, up from ₹382 crore in FY23.
The company expanded its network from 277 locations in March 2023 to 502 in March 2025 and also started operations internationally in the UAE last year.
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