Landmark Group is contributing Rs. 37 crore, or about $4.4 million, to the cloud kitchen startup Curefoods. Only a month has passed since Curefoods purchased Krispy Kreme's West India and South India businesses from the same group.

According to Curefoods' regulatory filing obtained from the Registrar of Companies (RoC), the board has adopted a special resolution to issue 3,458 compulsory convertible preference shares at an issue price of Rs. 1,07,526 apiece in order to raise Rs. 37 crore.

According to reports, the Landmark Group would contribute an unknown sum to Curefood's $40 million fundraising campaign.

Landmark Group will hold a 0.96% share in the business following the most recent funding round, and this could rise with further investments. According to Entrackr, the company is worth approximately $460 million after the sale.

According to the separate resolution, Curefoods has also expanded the size of its ESOP pool by adding new 10,613 employee stock options valued at Rs. 114 crore, or $13.5 million. Entrackr estimates that Curefood's whole ESOP plan, which includes 19,842 employee stock options, is currently worth about Rs. 213 crore, or 25 million.

Curefoods, which was founded in 2020, is the operator of EatFit, Yumlane, Aligarh House Biryani, Masalabox, and CakeZone. It boasts 150 multi-brand cloud kitchens and more than 100 kitchens spread across 200 locations in 15 cities, all supported by a backend operation of more than 7 food factories. In 2023, the business also purchased Millet Express and YumLane Pizza.