Cure.fit's in talks to raise Rs 100 crore to build cloud kitchen brands

Ankit Nagori, co-founder of Cure.fit and one of India's best-known startup executives, is in talks to raise Rs 100 crore to build a house of food and cloud-kitchen brands. This come nearly a year after Nagori swapped his stake in Cure.fit to take control of its cloud kitchen arm Eat.fit, sources said.

The funding round is being led by venture firm Iron Pillar, which is investing Rs 40 crore. Other angels and venture firms are expected to contribute to the deal, which is nearly done, said these people, who requested anonymity.

Last year, had Nagori acquired a 70-80 percent stake in Eat.fit, the cloud kitchen firm meant to promote healthy eating, in exchange for his 7.6 percent stake in Cure.fit. Eat.fit had scaled down significantly mid-last year, shutting down operations in 12 cities due to the Covid-19 pandemic.

Before co-founding Cure.fit, Nagori served as chief business officer of online retailer Flipkart, and was among the key leaders in the company after founders Sachin Bansal and Binny Bansal, and CEO Kalyan Krishanmurthy.