Cloud kitchen startup Curefoods has strategically invested in Millet Express, a millet-based startup based in Hyderabad. Millet Express offers a range of South Indian cuisine made from all seven types of millet, including breakfast options and rice bowls. The startup also provides North Indian cuisine with offerings such as parathas, kichidis, and rotis.
Expansion Plans and Market Presence
Millet Express plans to utilize the investment to expand its operations and reach a wider audience for its millet-based products. The startup aims to leverage Curefoods’ expertise and market presence to enhance its brand and operations.
Collaborative Growth Opportunities
Curefoods intends to expand the offerings of Millet Express across both its online and offline platforms.
Gokul Kandhi, CEO of Curefoods, highlights the significance of millets in the food industry. He declares that the United Nations General Assembly declares 2023 as the International Year of Millets (IYM2023), and Millet Express is well-positioned to benefit from the growing support and traction in the sector.
Funding and Expansion Initiatives
Curefoods, founded by Ankit Nagori in 2020. Curefoods operates multiple food factories and more than 150 multi-brand cloud kitchens, servicing over 200 locations in 15 cities. The company owns various brands, including CakeZone, Nomad Pizza, Frozen Bottle, and Sharief Bhai Biryani.
The investment in Millet Express comes on the heels of Curefoods raising INR 300 crore. The round was led by Three State Ventures, an investment fund founded by Binny Bansal. The funds raised will support Curefoods’ expansion plans and the diversification of its brands into offline formats.
Prior to the investment in Millet Express, Curefoods acquired a majority stake in the milkshake brand Frozen Bottle and made separate investments in five F&B brands. The company continues to make strategic acquisitions to strengthen its position in the competitive cloud kitchen segment, where it faces competition from Rebel Foods, an industry unicorn operating over 450 cloud kitchens nationwide.
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