SUMMARY
Nora Fatehi has also become the brand ambassador of Curefoods’ brand CakeZone
Fatehi intends to take CakeZone to more cities thereby, aligning with the brand’s expansion plans of setting up 125 stores by the end of 2022
In June, Curefoods secured $50 Mn in its Series C funding round from a bunch of investors
Inc42 Daily Brief
Stay Ahead With Daily News & Analysis on India’s Tech & Startup Economy
Bollywood actress Nora Fatehi has invested an undisclosed amount in cloud kitchen startup Curefoods. With this, Fatehi has also become the brand ambassador of Curefoods’ brand CakeZone.
With the brand endorsement, Fatehi intends to take CakeZone to more cities thereby, aligning with its expansion plans of setting up 125 stores by the end of 2022.
“I strongly believe in the promise of CureFoods and I’m thrilled to invest in them and endorse CakeZone. Together we hope to create a lasting impression; both on people’s lives and palates,” Nora Fatehi said.
This is the second time when a Bollywood celebrity has backed Curefoods. Prior to that, Bollywood actor Varun Dhawan infused an undisclosed investment in the cloud kitchen aggregator and also, became a brand ambassador of its spin-off company, EatFit.
Founded in 2020 by Ankit Nagori, Curefoods houses various brands including EatFit, Sharief Bhai, Aligarh House Biryani and CakeZone, among others. It operates more than 150 cloud kitchens in 15 cities of India.
“Having Nora as an investor in Curefoods is a close integration and association with her. Her belief in our capabilities encourages us to further scale to greater heights,” said Ankit Nagori.
Curefoods has recently partnered with Hrithik Roshan’s HRX as well. It is also looking to expand in India particularly into the North Indian market, as shared by the startup.
In June, Curefoods secured $50 Mn in its Series C funding round from a bunch of investors. While in Series A and Series B funding rounds, it raised over $80 Mn in equity and venture debt.
Earlier this year, it acquired five D2C food brands and also, informed at that time that it would acquire a total of 35 brands by the end of the calendar year 2022.
As per Tofler’s report, it reported revenue from operations at INR 1.96 Cr whilst its consolidated losses stood at INR 1.33 Cr in the financial year 2021.
In the cloud kitchen segment, it faces competition from Rebel Foods which operates more than 450 cloud kitchens across the country.
According to a report, India’s cloud kitchen market is projected to touch a $2.5 Bn mark by 2028, growing at a CAGR of 17.5% during 2024-2028.
Note: We at Inc42 take our ethics very seriously. More information about it can be found here.