Mukesh Bansal and Ankit Nagori's Cure.Fit is all set to enter the offline food space by launching its Quick Service Restaurants (QSR) in Bengaluru. According to media reports, the launch will happen in the next few weeks. The QSRs will offer various healthy food options to people who are on-the-go.
Last month, the startup had raised $120 million led by Accel Partners, Kalaari Capital and Chiratae Ventures (formerly known as IDG ventures). The total funding raised by Curefit now stands at $170 million. The idea is to get people to eat healthier and for that an offline presence helps. Reports suggest that Cure.fit is believed to be spending over Rs 40045 lakh to build these QSR outlets.
Cure.fit is a pure health company, which includes its indoor gyms - Cult.fit, yoga and meditation centres - Mind.Fit, its primary care centres- Care.fit, and the healthy food platform - Eat.Fit. Initially, Eat.fit was in-app and followed a subscription model, currently it is available on Zomato, and the team claims that it already clocks close to 14000 orders everyday. Ankit, has been quoted in media platforms saying - food forms around one-fourth of Cure.fit's overall revenues.
Freshmenu had earlier ventured into the offline space with its restaurant at the Bengaluru airport, but it has shut down.
The foodtech space is buzzing with excitement. The space has seen two unicorns - Swiggy and Zomato this year, and both are aggressively competing against each other.
On Wednesday, Zomato, announced the launch of its pickup facility - Zomato Pickup. Late last week, Zomato also announced it had crossed 21 million monthly orders and now has an online food delivery presence across 41 cities.
Apart from the biggies - Swiggy and Zomato, Foodpanda and UberEats too seem to be growing aggressively. So does this mark the second wave of foodtech in India? Only time will tell.