Curefoods, a cloud kitchen company which houses brands like EatFit, CakeZone, and Aligarh House, announced its merger with Maverix, a foodtech player.
Following the merger, Curefoods will become the second-largest cloud kitchen player in India in terms of footprint with the largest manufacturing capability in the fresh food space, the statement said.
The merger will also take Curefoods’ market presence to 125 kitchens across 12 cities catering to over 10 cuisines.
Mumbai-based Maverix operates over 50 outlets across Delhi, Mumbai and Bengaluru. Curefoods will also get brand from Maverix such as the Great Indian Khichdi – one of India’s largest khichdi brands, Canteen Central – a multi-cuisine quick snack brand and Home Plate – an affordable home food offering.
Ankit Nagori, founder at Curefoods said: “At Curefoods we are on an ambitious path to build the strongest food brands in the market with a digital-first strategy. Maverix is one such company with significant experience and market know-how and has also created stellar food brands that are recognized and loved in key markets. Together, we now have the largest manufacturing capability in the fresh food space. We are confident that our combined growth and stronger-than-ever platform will numerously benefit our consumers on their quest for the best food options in India.”
This merger is a significant step for Curefoods in continuation of its mission to build a powerhouse of food brands in India that will cater to varying consumer demands across geographies, said the company in a statement.
Shripad Nadkarni, Founder Director at Maverix said: “This game-changing merger comes at a time when the Indian cloud kitchen ecosystem is thriving and presents numerous opportunities for growth and scale. We believe that Curefoods’ digital brand creation expertise, tech prowess, and strong market penetration along with our supply chain expertise, efficient kitchen operations and experience in creating top food brands make for the right synergy.”
Prayank Swaroop, Partner, Accel Partners said: “Accel partnered with Maverix in their seed round and we have seen Shripad and Shree build an amazing franchise around delectable food over the past few years. By joining hands with the Curefoods platform today, Maverix has taken the next step in its journey towards becoming a food brand that is loved by millions of Indians.”
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