Bollywood actress Nora Fatehi has invested an undisclosed amount in cloud kitchen startup Curefoods and became the brand ambassador of Curefoods CakeZone.
With the brand’s support, Fatehi intends to take CakeZone to more cities, in line with its expansion plans to set up 125 stores by the end of 2022.
Founded in 2020 by Ankit Nagori, Curefoods includes various brands including EatFit, Sharief Bhai, Aligarh House Biryani and CakeZone. It operates more than 150 cloud kitchens across 15 cities in India and is looking to expand in India, especially the North Indian market.
Curefoods also recently partnered with Hrithik Roshan’s HRX. In June, Curefoods secured $50 million in its Series C funding round from a group of investors. While in Series A and Series B funding rounds, it has raised more than $80 million in equity and venture debt.
At the beginning of this year, it acquired five D2C food brands and also then announced that it will acquire a total of 35 brands by the end of the calendar year 2022.
In the cloud kitchen segment, it faces competition from Rebel Foods, which operates more than 450 cloud kitchens across the country. According to Tofler’s report, it reported revenue from operations of INR 1.96 crore, while its consolidated losses stood at INR 1.33 crore in FY21.
Nora Fatehi, Actor & Investor, said, “I strongly believe in the promise of CureFoods and am excited to invest in them and support CakeZone. Together we hope to create a lasting impression; both on human lives and taste.”
Ankit Nagori, Founder of Curefoods, said, “Having Nora as an investor in Curefoods is a close integration and connection with her. Her belief in our abilities encourages us to further expand to greater heights.”
This is the second time a Bollywood celebrity has endorsed Curefoods. Earlier, Bollywood actor Varun Dhawan made an undisclosed investment in the cloud kitchen aggregator and also became the brand ambassador of its spin-off company EatFit.
According to the report, India’s cloud kitchen market is projected to touch $2.5 billion by 2028, growing at a CAGR of 17.5% during 2024-2028.