Harnessing the founding spirits of Binny Bansal, the co-founder of Flipkart, he is now actively backing others in their startup journey with his venture fund Three State Ventures. This is his latest investment in Curefoods, an emerging virtual food unicorn that brings a key element to family dining tables in the Indian market.
Three states have added Rs. instead of overhauling the archaic state government. In just six months, Funding Circle provided Curefoods a total funding of 200 crores.500 crores. Curefoods has acquired this due to its popularity and great success, which is valued at potentially Rs.3,000 crores. Inaugurated in 2016 by Ankit Nagori, who was once an executive of Flipkart, Curefoods has an unparalleled history of being a top food brand for customers who seek healthy food.
The upfront cash injection from the investment will enable Curefoods to assiduously widen its offline presence and gainfully forward such brands as Nomad Pizza and Sharief Bhai Biryani. It shows that Binny is very passionate about his vision for Curefoods and how it can help people rethink junk food and make it more natural and healthy, even at home or work. Curefoods has already collected over a hundred million dollars from investors comprising Accel and Winter Section as leaders.
An acquisition of Yumlane, the ready-to-go food platform, by Curefoods, was made last year, along with this tech platform that powers the operations of about 50,000 restaurants. In the revenue of FY23, profit was doubled four times, and the profit for 2023 reached Rs.382 crores. While numbers have been low, at only 14, they have already claimed Rs. If the latest round of Curefoods funding gets the current ongoing investment figures, namely its 342 crores, they are well prepared to consolidate against the fragmented competition. Binny is an early investor in this food-tech startup who has already voted with his money and cash by contributing to its venture.
