Team StartupCity

• Curefoods secures Rs 160 crore in pre-IPO funding from 3State Ventures
• Funding led by Flipkart Co-Founder Binny Bansal, an early backer of Curefoods
• Fresh capital to support expansion and will be factored into upcoming IPO

Cloud kitchen startup Curefoods has raised Rs 160 crore from 3State Ventures, the investment arm of Binny Bansal, ahead of its planned IPO. The company has allotted 1.28 crore equity shares at Rs 124 per share as part of a pre-IPO placement.

This strategic investment comes just months after Curefoods filed its Draft Red Herring Prospectus (DRHP) in June 2025. The proposed public offering includes a fresh issue of up to Rs 800 crore and an offer for sale of 4.08 crore equity shares by existing investors, including Iron Pillar, Chiratae Ventures, Accel India, and others.

Binny Bansal, who has known Curefoods founder, Ankit Nagori since their days at Flipkart, is already an existing investor. This fresh funding reflects continued confidence in Curefoods’ long term vision and performance.

Founded by Nagori, Curefoods operates a growing portfolio of food brands such as EatFit, CakeZone, Nomad Pizza, Sharief Bhai, and Frozen Bottle. It also holds an exclusive tie up with global donut brand Krispy Kreme in India.

The company plans to use the IPO proceeds to expand its cloud kitchens, kiosks, and restaurant network, repay debts, invest in its subsidiary Fan Hospitality, and support working capital and general corporate needs.

Also Read: Wastelink to Scale Food Waste Upcycling with Fresh Funding Boost

The pre-IPO placement was approved by the Board on September 10 and by shareholders on September 15, and will be included in the IPO's fresh issue sizing.

JM Financial, IIFL Capital, and Nuvama Wealth are acting as book running lead managers for the IPO.