Speaking on the online food ordering market, Nagori said it is growing rapidly. He believes the food delivery market will quadruple over the next five years. And it will reach 8-9 million orders a day from the current 3 million figure as the market continues to become more organized. So, he expects the company's business will continue to grow at about 75 per cent compound annual growth rate (CAGR) for the next 3 years.

New Delhi: Cloud kitchen operator Curefoods expects to be profitable and achieve an annual run rate (ARR) of Rs 800 crore bu June 2023, said Ankit Nagori, CEO pf the company in an interview with ETRetail. He added that the brand is currently growing at an ARR of Rs 550 crore.

Presently, the company is well-funded with $110 million in equity and $20 million in equity and $20 million in debt.

Speaking on the online food ordering market, Nagori said it is growing rapidly. He believes the food delivery market will quadruple over the next five years. And it will reach 8-9 million orders a day from the current 3 million figure as the market continues to become more organized. So, he expects the company's business will continue to grow at about 75 per cent compound annual growth rate (CAGR) for the next 3 years.

Talking about the cloud kitchen business, he said if it is done in the right manner then it is profitable yet a low-margin business.

From the company's portfolio of online brands, Eatfit presently manages 4.5 lakh orders a month and Cakezone manages 2.5 lakh orders a month. These online-only brands are expected to become very large brands and the company hopes to grow 4-5 times in the next 5 years.