Curefoods Raises $50 Mn In Series C Funding Round
Ambit acted as the exclusive financial advisor to Curefoods
Curefoods, a cloud kitchen company, has raised its Series C round of $50 million from a mix of new and existing investors. Earlier, the firm raised over $80 million in equity and venture debt across Series A and B raises in 2021 and 2022, respectively.
The funds raised from the current round will be used towards the expansion of existing brands into newer geographies and the acquisition of newer brands, said a statement, adding, Ambit acted as the exclusive financial advisor to Curefoods.
"Ambit, a digital and new-age business investment banking practice, continues its deep and razor-sharp focus in the Series B to E space. On the back of a unique one-ambit approach and a truly global investor network, Ambit provides its clients with customized solutions and seamless access to multiple pools of capital. The platform has completed over 10 transactions in the last 12 months, working with stellar founders and top 2/3 companies across segments like fintech, agritech, healthtech, enterprise SaaS, B2C as well as B2B commerce and many more," said the statement.
Curefoods states that it is creating a platform which strives to make honest food that customers love. By incubating food brands and operating state-of-the-art cloud kitchens, it wants to democratize access to good food in a sustainable manner. The company believes in the power of good food to make customers happier and healthier.
"Curefoods' various brands serve foods that suit the palette of its customers daily while keeping in mind their nutrition needs. It currently operates brands like EatFit, Yumlane, Aligarh House Biryani, MasalaBox, Cakezone, Great Indian Khichdi, Ammis Biryani, Canteen Central, and Homeplate, to name a few," said the statement.
The firm was founded by Ankit Nagori, erstwhile chief business officer at Flipkart and co-founder Cure.fit.