homestartup NewsCurefoods founder keen on developing a major F&B enterprise, prioritises offline footprint
Curefoods founder keen on developing a major F&B enterprise, prioritises offline footprint
Ankit Nagori, founder of Curefoods, explained that 90 percent of the funding raised was equity, with the remaining 10 percent being debt. He also mentioned that Curefoods is about to turn profitable and does not require much more funding.
House of brands startup Curefoods bagged Rs 300 crore recently in a mix of equity and debt. The round was led by Binny Bansal's fund with other firms like Iron Pillar, Chiratae Ventures and Ask Finance also participating. The startup plans to use the funds to expand geographically and diversify into the offline space. To discuss the company's growth plans Startup Street spoke to Ankit Nagori, founder of Curefoods.
Nagori explained that 90 percent of the funding raised was equity, with the remaining 10 percent being debt. He also mentioned that Curefoods is about to turn profitable and does not require much more funding.
“The aim for raising this smaller round this year because we are about to turn profitable so we don’t need a lot of money but we raised this round to be able to experiment with the offline footprint. Our online food business is pretty established.”
Nagori believes that there is an opportunity to build a large food and beverage (F&B) play, and he does not want to miss out on the offline aspect of it.
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First Published: Apr 21, 2023 8:08 PM IST
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