Cloud kitchen firm Curefoods has raised INR 160 Cr (round $18 Mn) in pre-IPO placement from Flipkart cofounder Binny Bansal’s 3State Ventures. 

In an announcement, the IPO-bound firm mentioned that its board and shareholders accredited an allotment of 1.28 Cr fairness shares at INR 124 per share to 3State Ventures earlier this month.

Notably, 3State Ventures was the second largest stakeholder in Curefoods, after founder Ankit Nagori, with a 17.3% stake previous to this funding spherical.

Based in 2020 by former Flipkart govt Nagori, Curefoods homes a wide range of manufacturers reminiscent of EatFit, Cake Zone, Nomad Pizza, Frozen Bottle, Sharief Bhai Biryani, amongst others. The startup generates income primarily from sale of meals gadgets, supplemented by kiosks and bodily eating places. 

In June, Curefoods filed the DRHP for its IPO, which can comprise a contemporary problem of shares value as much as INR 800 Cr ($304 Mn) and a suggestion on the market (OFS) of as much as 4.85 Cr fairness shares by current shareholders.

Iron Pillar PCC, Crimson Winter, Accel India V (Mauritius), Chiratae Ventures India Fund IV, amongst others would offload shares by way of the OFS. 

Within the DRHP, Curefoods mentioned that it could contemplate elevating a pre-IPO spherical and the scale of the contemporary problem within the IPO could be minimize if the pre-IPO placement materialises. 

On the monetary entrance, the corporate’s web loss remained virtually flat at INR 169.9 Cr within the yr ended March 2025 as in opposition to INR 172.6 Cr in FY24. Working income stood at INR 745.8 Cr in FY25, up 27.4% from INR 585.1 Cr within the earlier fiscal yr.

(The story shall be up to date quickly)