Curefoods Takes A Slice Of Yumlane, What’s Cooking In Foodtech?
Here is a big business move in the Indian foodtech market. Curefoods, a company that runs cloud kitchens, has bought Yumlane. Yumlane is known for its special technology in making pizzas.
Curefoods has cloud kitchens where food is cooked and then delivered to customers. Yumlane, on the other hand, focuses on making pizzas using their own technology. Both are Indian FoodTech Startups but focus on different things.
Before this, Curefoods and Yumlane were already doing some business together. Last year, Curefoods bought the rights to run Yumlane’s Pizza cloud kitchens in South India.
They also bought a 10% stake in Yumlane earlier this year. Now, Curefoods has completely bought Yumlane for a price they haven’t publicly said.
The idea is simple, they want to grow bigger and offer more to their customers. Curefoods believes Yumlane’s special pizza tech and its broad client network are valuable. By bringing Yumlane into the family, Curefoods can use its large reach to make Yumlane’s pizza technology even better.
Well, Yumlane has been selling pizzas across 15 cities in India. They have big clients like Barbeque Nation and 7-11. They have also raised money from big names like Binny Bansal, who co-founded Flipkart.
Recently, Curefoods got a huge investment of Rs 300 crore. Most of this money is in the form of equity, which means they sold part of their company for this money. Only 10% is debt, which they have to pay back.
This investment round was led by Binny Bansal’s fund and joined by other firms like Iron Pillar. With this money, Curefoods plans to grow into new areas and also enter the offline market.
The founder of Curefoods, Ankit Nagori, said the company is close to making a profit and doesn’t need much more money right now.
Curefoods wants to use Yumlane’s technology and client network to grow both brands. This deal follows their past collaborations and sets the stage for their future growth.