Cloud kitchen brand EatFit eyes $50 M annualised revenue run rate by FY22

EatFit, a cloud kitchen brand run by Curefoods, provides healthy eating options for customers.

With the cloud kitchen space expanding in the country, the brand seems to have found the perfect recipe for success.

Ankit Nagori, Founder, Curefoods, says that businesses in India have had an interesting journey over the last 18 months. The initial 5-6 months were particularly tough for consumer-facing brands such as EatFit. “People had to find ways to continue their business,” Ankit says.

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At the peak of the COVID-19 pandemic, Ankit says, the startup had to shutter several cloud kitchens, a trend that is changing now. Currently, EatFit operates in four cities across India — Bengaluru, Hyderabad, Coimbatore, Mysore and is in the process of launching services in Chennai, Mumbai and Delhi.

Overall, the company runs 35 cloud kitchens across four cities and plans to scale this number to 75 in seven-eight cities over the next six months. EatFit was spun off as an independent entity from Bengaluru-based wellness startup Cure.fit in October 2020.

“Foodtech is one area where there is significant growth in the last six months and we hope to continue riding this wave,” says Ankit.

Ankit explains that pre-pandemic, EatFit was strictly all about healthy food for people who are trying to lose weight. While the health food segment continues to be the brand's focus area, it is also exploring other food categories. EatFit now provides healthier options of comfort foods such as whole wheat burgers or multigrain pizzas.

The company has so far raised $20 million in funding plus $6-7 million of debt. “We are in talks with investors to raise $40 million and we’ll be able to announce something in the next few weeks,” says Ankit. The company is expecting to close at $50 million annualised revenue run rate by the end of FY22.

To tap into festive sales, EatFit has also introduced Navratri Special Meals. There is a pent-up demand in all avenues and the festive season is starting for all segments, the founder says. “I really believe that after this festive season over the next 3-4 months businesses in India will be back to more than pre-pandemic levels,” Ankit adds.

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