Cloud kitchen operator Curefoods is set to achieve EBITDA-level profitability in the next two quarters, according to Ankit Nagori, the Founder and CEO of the company.
“We aim to get to INR 1,000-crore revenue run rate in the coming quarters. The aim is to turn EBITDA profitable in the next one or two quarters. Currently, we are in the range of INR 800 crore, aiming to get INR 2,000 crore in the next three years,” said Nagori.
Curefoods is gearing up to launch an additional 40 multi-usage cloud kitchen restaurants this year, with a strategic focus on expanding its footprint in Mumbai, Delhi, and Tier-2 cities such as Indore and Lucknow. The company aims to have a total of 250 cloud kitchens operational by the end of the next year.
Established in 2020, the startup headquartered in Bengaluru hosts a variety of brands, including EatFit, CakeZone, Nomad Pizza, Yumlane, Sharief Bhai Biryani, Aligarh House Biryani, MasalaBox, Cakezone, Great Indian Khichdi, Ammis Biryani, Canteen Central, and Frozen Bottle.
Nagori further mentioned that the biryani brand, Sharief Bhai Biryani, under the company’s umbrella, is set to establish 30-40 restaurants in Tamil Nadu and Kerala. Curefoods anticipates that approximately 25 percent of its revenue will originate from offline stores or brand restaurants by the conclusion of 2024.
“Currently, 4 of our brands of the brands EatFit, Cakezone Sharief Bhai biryani, and Nomad Pizza contribute to 80 per cent of our orders,” he added.
Recently, Curefoods expanded its market presence by acquiring Yumlane, a Mumbai-based pizza maker. The company’s strategy is centered on scaling its current brands, with a deliberate decision not to heavily pursue acquisitions.
Continue Exploring: Curefoods expands portfolio with strategic acquisition of Yumlane pizza brand
Commenting on the recent acquisition, Nagori said, “Acquisitions played a very important role in getting to the right mix of brands, and SKUs and cuisine. At different price points, the acquisitions have served us well to get a full portfolio. We will not be going very heavy on acquisition but scale the brands and look at offline expansion.”
To date, it has secured approximately $220 million in funding from over 25 investors, including Iron Pillar, Chiratae Venturers, Accel India, Three State Capital, Blacksoil, Kunal Shah, and various others.
