Carefoods, the Cloud Kitchen Startup Raises $62 Million

The cloud kitchen startup, Carefoods which owns multiple brands and runs over 100 cloud kitchens in 12 cities has raised $62 million in its latest funding round with the participation of Iron Pillar, Chiratae Ventures, Sixteenth Street Capital, Accel Partners and Binny Bansal.

The raised funds include $52 million from equity funding and $10 million from debt financing. The founder of Carefoods, Ankit Nagori has said that the company plans to expand its business across geographies and meet the customers’ expectations with the funds. He also said that there will be more opportunities to establish multiple food brands across cuisines and geographies.

The company also expects to make further inroads by expanding its multi-brands kitchens geographically in India and making available a D2C platform for all its brands.