Ankit Nagori and Mukesh Bansal's CureFit acquires Kristys Kitchen
Healthcare platform CureFit has acquired Bengaluru-based premium online food delivery startup Kristys Kitchen in a cash and equity deal, the company said in a statement today.
Kristys Kitchen is a full-stack online food delivery company, which delivers premium authentic international and healthy food in Bengaluru, and uses eco-friendly packaging solutions. It also collaborates with foreign chefs to create authentic recipes.
The company was launched in September 2016 by Cristina Maiorescu, Sumit Sinha and Cedric Carvalho. Previously, the co-founders had travelled extensively to explore food cultures and cooking methods to set up their first kitchen in Bengaluru.
Maiorescu and Carvalho, along with all the other employees at Kristys Kitchen will join CureFit's team as part of the acquisition.
"We believe we have developed a great product that will now be taken to scale with the help of CureFit. Both companies' values and long-term vision are in sync," said Maiorescu on the acquisition.
Kristys Kitchen claims to have delivered 250 orders per day from its Marathahalli kitchen and is operationally cash positive.
Curefit, run by Curefit Healthcare Pvt. Ltd, was registered in May 2016 and is to be launched in early 2017 by former Flipkart executives Ankit Nagori and Mukesh Bansal.
Nagori and Bansal had quit their positions as chief business officer and head of marketplace, respectively, at the e-commerce firm in February 2016.
In July 2016, CureFit had raised $15 million in a Series A round of funding from Accel Partners, IDG Ventures and Kalaari Capital.
At the time of fundraising, the company said CureFit will be an online platform which will address the concept of preventive healthcare through a combination of engagement, coaching and delivery through a mix of online and offline channels. The startup said that it will not have doctors or health experts on its network, but will provide access through curated partnerships with players who address the concept of a healthy lifestyle through various forms.
In August 2016, CureFit had invested Rs 20 crore ($3 million) in Bengaluru-based CULT Fitness Pvt. Ltd, a fitness startup that offers training programmes without equipment.
In January this year, CureFit was in talks to acquire two companies, mental health firm Seraniti and a Bengaluru-based fitness centre.
Other recent deals in the food delivery space include packaged foods company Sattviko, which acquired outfit curation portal StylSpot last month in order to strengthen its technology platform. Besides packaged foods, Sattviko operates a chain of quick-service restaurants (QSR) in three cities.
In January, online food discovery platform Ketchupp secured Rs 3 crore ($440,000) seed funding from India Quotient and a group of unnamed angel investors.
In December 2016, MonkeyBox Food Tech Pvt. Ltd, which delivers healthy food for children, raised seed investment from early-stage investor Blume Ventures and a clutch of wealthy individuals.
However, in the same month, Kalaari Capital-backed Eatfresh closed down its retail food delivery business and said it will cater only to party or bulk orders.