Cloud kitchen major Curefoods saw its revenue from operations go up while its losses halved due to reduction in advertising costs.

The company’s revenue from operations soared 53.17 per cent to ₹585 crore in FY24 from ₹382 crore in FY23.

The Bengaluru-based company has 340 cloud kitchens in 35 cities and 60 offline outlets across 10 cities. Founded by Ankit Nagori in 2020, the company houses eight brands including EatFit, CakeZone, Nomad Pizza, Frozen Bottle, Sharief Bhai and Olio Pizza, catering to 10 cuisines.

The company also made additional ₹50 crore from interest income pushing Curefoods’ total income to ₹635 crore in FY24.

Advertising expenses were reduced by 50.8 per cent to ₹52.8 crore, while employee benefit expenses rose by 43.18 per cent to ₹148.2 crore. Due to decline in advertising costs, the company managed to reduce its net loss by 50 per cent to ₹172.6 crore in FY24.

In the next three years, it intends to scale to 1,000 locations, including 600 cloud kitchens and 350 quick service restaurants (QSR) and casual dining across 50 cities, businessline reported earlier. Four of its brands – Eatfit, Cakezone, Sharief Bhai, and Olio Pizza – have already crossed ₹100 crore in annualised sales.

Curefoods has raised more than $200 million to date from the likes of Binny Bansal’s Three State Ventures, Accel, Chirate and Alteria.