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In a major pre-IPO move, 3State Ventures, the Singapore-based investment firm founded by Flipkart co-founder Binny Bansal, has invested Rs 160 crore in Curefoods, the health-focused food delivery
In a major pre-IPO move, 3State Ventures, the Singapore-based investment firm founded by Flipkart co-founder Binny Bansal, has invested Rs 160 crore in Curefoods, the health-focused food delivery company, ahead of its initial public offering (IPO). The development signals strong investor confidence in the rapidly growing Indian food-tech and wellness market.
According to Curefoods’ filing with the Registrar of Companies, the company has allotted 1.28 crore equity shares at Rs 124 per share to 3State Ventures. This strategic investment, approved by Curefoods’ board on September 10 and by shareholders on September 15, will be adjusted against the size of the fresh issue in the company’s forthcoming IPO.
Curefoods had filed its Draft Red Herring Prospectus (DRHP) with the Securities and Exchange Board of India (SEBI) in June, aiming to raise Rs 800 crore through a fresh issue. The company is also planning an Offer for Sale (OFS) of 4.85 crore shares by early investors, including Iron Pillar, Chiratae Ventures, Crimson Winter, Accel, and Curefit Healthcare. Notably, founder and CEO Ankit Nagori will not participate in the OFS.
The IPO is seen as a critical milestone for Curefoods, which has been expanding aggressively in India’s health and wellness food segment. With rising consumer demand for nutritious, convenient meal options, the company aims to leverage the public listing to fuel growth, expand operations, and strengthen its technology and supply chain infrastructure.
Binny Bansal’s backing of Curefoods through 3State Ventures is significant for multiple reasons:
3State Ventures has a history of backing disruptive startups across sectors, particularly those combining technology with consumer services. Curefoods’ innovative approach to healthy, ready-to-eat meals aligns with this investment philosophy.
Founded by Ankit Nagori, Curefoods has quickly emerged as a leader in India’s health-focused food delivery sector. The company specializes in curated meal plans designed to meet nutritional goals, appealing to fitness enthusiasts, busy professionals, and health-conscious consumers.
The recent funding round positions Curefoods to:
The news of 3State Ventures’ investment has already created a buzz among market watchers and investors. Analysts believe the deal not only signals confidence in Curefoods’ pre-IPO valuation but also highlights the growing appetite for health-food startups in India’s consumer market.
With rising disposable incomes and increased awareness about healthy living, India’s health-focused food industry is expected to see continued growth. Curefoods, with its combination of technology, innovative offerings, and strategic investor support, is well-positioned to capitalize on these trends.
Curefoods’ IPO is expected to be closely watched by investors and industry analysts. The Rs 800 crore fresh issue, along with the OFS by early investors, will provide the company with capital to scale operations, enhance technology, and strengthen its supply chain.
Binny Bansal’s investment ahead of the IPO is likely to enhance investor confidence further, potentially leading to strong subscription numbers when the issue opens.
The strategic backing of Curefoods by 3State Ventures marks a significant milestone for both the company and the broader health-food startup ecosystem in India. With Binny Bansal’s mentorship and financial support, Curefoods is poised to accelerate growth, expand market reach, and make a strong debut in India’s public markets.
As the IPO approaches, all eyes will be on Curefoods to see whether it can capture investor attention, deliver strong growth, and redefine the health-food segment in India.
