In Short:

Curefoods, a popular cloud kitchen in India, plans to expand its offline presence with 600 cloud kitchens and 350 quick service restaurants (QSR) across 50 cities in the next three years. Currently, the company’s revenue is mainly from online sources, but it aims to balance it with offline revenue in the future. The company aims for a ₹1,000-crore revenue run rate and EBITDA profitability soon.

Curefoods Aims to Expand Offline Presence

Exciting news from Curefoods! The company, known for being one of India’s largest cloud kitchen players, is now focusing on boosting its offline presence. Founder Ankit Nagori shared that in the next three years, they plan to expand to 1,000 locations, including 600 cloud kitchens and 350 quick service restaurants (QSR) and casual dining outlets in 50 cities.

Current Status

As of now, Curefoods already has 340 cloud kitchens in 35 cities and 60 offline outlets in 10 cities. The company holds eight unique brands like EatFit, CakeZone, Nomad Pizza, Frozen Bottle, Sharief Bhai, and Olio Pizza, offering a variety of 10 different cuisines.

Shift in Revenue

While 70% of their revenue currently comes from online sales through cloud kitchens, Curefoods is looking to balance it out by having at least 35% revenue from offline sources soon. Their goal is to have offline contributions make up 50% of the revenue within the next five years.

Ankit Nagori shared, “What started as a cloud kitchen business is now a full-fledged F&B business. As we keep opening more offline stores, this share will be 50-50 in the next few years.”

Expansion Plans

The company has identified Sharief Bhai as the primary brand for offline expansion, with over 40 outlets in Bangalore, Mysore, and various cities in Tamil Nadu. They aim to add 10 more Sharief Bhai restaurants in the next few months across South India, starting from Kerala.

Financial Goals

Curefoods is eyeing a revenue run rate of ₹1,000 crore in the upcoming quarters, up from the current ₹820 crore. By FY27, they plan to hit the ₹2,000-crore mark. Additionally, they are aiming to become EBITDA profitable in the next one or two quarters.

Debt Financing

To fuel their expansion plans, Ankit Nagori revealed that they are looking to secure ₹100 crore in debt financing. The company aims to have a diverse portfolio of brands catering to different price points in the market.

Funding Round

In March, Curefoods successfully closed a funding round of ₹500 crore led by Flipkart cofounder Binny Bansal.

Exciting times ahead for Curefoods as they navigate the offline expansion and continue to make waves in the F&B industry!