As part of its long-term strategy, Curefoods aims to incubate new brands annually while expanding existing ones
New Delhi: Bengaluru-based food and beverage service Curefoods, a prominent player in the Indian food-tech sector, plans to expand to 1,000 locations over the next five years, a company top executive told IndiaRetailing in an interview.
In addition, the company also plans to foray into the international market with the first store opening in the Gulf Corporation Council (GCC) this month.
“Over the last four years, we have expanded to 450+ locations, including cloud kitchens, restaurants, and takeaway kiosks,” said Ankit Nagori, founder, of Curefoods. “Post-pandemic, the market has shifted back to hybrid consumption, with people dining in and ordering online. Food will always be multi-channel, and we focus on building both dine-in and delivery options.”
Curefoods follows a hybrid multi-channel model, encompassing cloud kitchens, dine-in restaurants, and takeaway kiosks and is present in 250 locations across the top eight cities—Bengaluru, Delhi, Chennai, Hyderabad, Mumbai, Pune, Kolkata, and Ahmedabad.
Curefoods currently operates six major brands at scale, each catering to distinct culinary preferences. These include Eatfit, which focuses on health-conscious food options; CakeZone, specializing in desserts; Sharief Bhai, known for its flavorful biryani offerings; Nomad Pizza, a gourmet pizza brand; and Olio Pizza, a cloud kitchen concept that has become Curefoods’ most widely distributed brand across India.
With six key brands generating 90% of its revenue, Eat Fit stands out as the most popular, followed closely by Olio Pizza and Sharif Bhai Biryani. Each brand targets different demographics and customer preferences, ensuring a broad appeal.
“Eat Fit is our highest-volume and most popular brand. It is our oldest brand, offering comfort food with a health twist, making it ideal for daily consumption and high-frequency orders,” added Nagori.
Olio Pizza is the second-largest brand, targeting young audiences and operating mostly as a cloud kitchen. With 150 locations, Olio has shown strong growth, with an annualized revenue of Rs 120 crore. Nagori expects it to become the largest brand within five years
Although the brand is present across channels, the lion’s share of its business comes from online.
“Currently, online orders account for 70% of the company’s business, with offline orders making up the remaining 30%,” added Nagori. Although Curefoods has a limited presence in malls, there are plans to expand Nomad Pizza and Sharif Bhai Biryani into these high-traffic areas to attract more customers.
Curefoods has reported a 50% year-on-year growth in financial year (FY) 24 and projects a growth rate of 35%-40% for FY25.
“The company anticipates achieving profitability by the fourth quarter of FY25,” added Nagori.
As part of its long-term strategy, Curefoods aims to incubate new brands annually while expanding existing ones. Each brand operates as an independent business unit, benefiting from the centralized resources that enhance efficiency and innovation.
Curefoods is also leveraging technology and data analytics to enhance its operations. The company focuses on demand forecasting, pricing optimisation, and ingredient management by utilising Amazon Web Service (AWS) and Google Cloud platforms (GCP), ensuring a streamlined supply chain and improved customer experience.
To further support its growth ambitions, Curefoods employs digital marketing strategies across major platforms, including customer relationship management (CRM) initiatives and retargeting through WhatsApp, Meta, and user-generated content (UGC). This multi-faceted approach aims to enhance brand visibility and customer engagement.
Looking ahead, Curefoods envisions a robust multi-brand portfolio, aspiring to establish several brands with revenues exceeding Rs 1,000 crore, a few brands achieving Rs 500 crore, and numerous brands crossing the Rs 100 crore mark. Ultimately, the company aims for a billion-dollar valuation, positioning itself as a leader in the global food industry.
According to media reports, the company is in talks to raise $40 million as part of its Series D round of funding.
