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Exclusive: Binny Bansal’s Oppdoor raises additional $6.4 Mn from 3State Ventures

EntrackrEntrackr · 10d ago
Exclusive: Binny Bansal’s Oppdoor raises additional $6.4 Mn from 3State Ventures
Medial

Exclusive: Binny Bansal’s Oppdoor raises additional $6.4 Mn from 3State Ventures Flipkart co-founder Binny Bansal’s venture firm, 3State Ventures, has made an additional $6.4 million investment in its portfolio company Oppdoor Pte. Ltd, according to regulatory filings in Singapore reviewed by Entrackr. With this latest infusion, the total capital invested by 3State Ventures in Oppdoor has reached $14.35 million, the filings show. The investment has been made through tranches. Oppdoor is a Singapore-headquartered, technology-enabled managed services platform that helps consumer brands expand into global e-commerce markets. Rather than operating as a pure SaaS or logistics player, Oppdoor marked itself as a full-stack cross-border commerce enablement partner, handling marketplace operations for brands selling overseas. The startup reportedly works with emerging online brands looking to enter and scale in developed markets such as the US, UK, Europe, Canada, Japan, and Australia. Its services include managed marketplace operations, international compliance and taxation support, pricing and performance optimization, local partnerships, and operational execution across global marketplaces. The platform enables brands to sell internationally without setting up local entities or building in-house cross-border teams. Queries sent to Binny Bansal remained unanswered at the time of publishing. The company is a key part of Binny Bansal’s entrepreneurial journey after his exit from Flipkart. Following the sale of Flipkart to Walmart and his eventual exit from the company, Bansal launched Three State Ventures, a privately funded investment firm backed largely by his personal capital. The firm invests across sectors, including commerce, logistics, fintech, healthcare, and education.

Flipkart co-founder Binny Bansal invests Rs 200 crore more in cloud kitchen startup Curefoods

IndianStartupNewsIndianStartupNews · 1y ago
Flipkart co-founder Binny Bansal invests Rs 200 crore more in cloud kitchen startup Curefoods
Medial

Bengaluru-based cloud kitchen startup Curefoods has secured an additional $25 million investment from Binny Bansal's Three State Ventures. This comes as part of an ongoing funding round, bringing Three State Ventures' total investment in Curefoods to $50 million. Curefoods plans to use the funds to expand its offline presence and strengthen its portfolio. Since its founding in 2020, Curefoods has rapidly grown to include over 200 cloud kitchens and offline stores across 15 cities in India. With this latest investment, Binny Bansal's stake in the company reaches 18%. Curefoods operates in a competitive market, but its strategic acquisitions and expansion plans have helped it become the second-largest brand in terms of revenue after Rebel Foods.

Binny Bansal’s Three State Ventures invests $25 Mn in Curefoods

EntrackrEntrackr · 1y ago
Binny Bansal’s Three State Ventures invests $25 Mn in Curefoods
Medial

Cloud kitchen startup Curefoods has raised an additional capital of $25 million in its Series D round from Three State Ventures, a fund launched by Flipkart co-founder Binny Bansal. The company raised $36 million in the first tranche of Series D and is now valued at $375 million, according to Curefoods founder and CEO Ankit Nagori. As per data intelligence platform TheKredible, it has raised more than $190 million to date. Bansal made the investment by buying out Cultfit’s remaining stake in the cloud-kitchen platform and from some angel investors, according to an ET report. Four-year-old Curefoods operates brands like EatFit, Yumlane, Aligarh House Biryani, Masalabox and CakeZone. It has over 100 kitchens in over 200 locations across 15 cities serviced by a backend operation of over 7 food factories, and 150 multi-brand cloud kitchens. Also Read: Decoding the financial health of leading cloud kitchen startups Besides fundraising, the company also acquired two brands – YumLane Pizza and Millet Express in 2023. Curefoods competes with Rebel Foods and Box8, FreshMenu, and a host of independent brands such as Biryani Blues and Biryani by Kilo. Among the cloud kitchen brands, Curefoods is the second largest brand in terms of revenue after Rebel Foods. While Rebel Foods’ revenue from operations grew 39.2% to Rs 1,195 crore in FY23, Curefoods reported Rs 384 crore in revenue followed by EatClub with revenues exceeding Rs 300 crore in the same period. Biryani By Kilo also claims a revenue of around Rs 300 crore in the last fiscal year.

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