Cloud kitchen startup CloudEats raises more funding to expand in Southeast Asia

Cloud kitchens, also known as ghost kitchens or shared kitchens, provide restaurant owners and food entrepreneurs with low-cost commercial kitchen space for food delivery and takeout. This trend is spreading throughout the restaurant industry. More food entrepreneurs are turning to cloud kitchens to reduce operating costs and capture the explosive growth of food delivery.

A startup headquartered in Manila called cloud eatsCloud Kitchen operator in the Philippines and Vietnam has raised a $7 million Series A extension. Nord Star Accelerate the digitalization of food service in Southeast Asia.

Building on its success in Vietnam earlier this year, the startup plans to expand further into Southeast Asian countries such as Thailand, Malaysia and Indonesia in 2023, co-founder and CEO Kimberly Yao said in an interview. rice field.

“The strong growth of our Vietnam business over the past two quarters is very encouraging,” said Yao. “We are incorporating best practices with important learnings for our next market launch.”

Asia’s cloud kitchen market is expected to grow 14.2% Each year from 2021 to 2027; Southeast Asia’s food delivery market will Reach $49.7 billion by 2030up from $15.2 billion in 2021.

The startup had seven Cloud Kitchen locations in the Philippines when it raised its Series A in October works now 25 ghost kitchens In the Philippines and Vietnam, Yao told TechCrunch. Yao said his earnings since April this year have quadrupled since last October.

The latest funding will also allow CloudEats to develop its brand, expand its team, and double down on its investment in shared kitchen technology.

The co-founder of CloudEats Iacopo Rovere said the company’s main focus over the next 12 months will be to evolve its suite of integrated SaaS solutions for foodservice and enhance its brand building and marketing now has Over 30 brands in the Philippines and over 20 brands in Vietnam,include burger beast24/7 Eats, Slit Chicken, Piers KitchenWhen healthy appetiteexpanding its portfolio.

cloud eats

Image credit: cloud eats

CloudEats has a hybrid cloud kitchen and cloud restaurant model, and the company is not only an infrastructure operator, but also a digital native brand owner.

“Today, we own and operate over 50 online-optimized restaurant brands that we create and manage exclusively in the Philippines and Vietnam,” Yao told TechCrunch. “Our proprietary smart kitchen technology By integrating with food delivery platforms, you can quickly scale up and grow your business. ”

A serial entrepreneur with over 10 years of experience in retail R&D and on-demand e-commerce, Yao co-founded CloudEats in 2019. India. To date, he has fulfilled more than 2.5 million orders, according to CloudEats.

This round of funding brings the total to $14 million, in addition to the previous round of $5 million.

“As a global investor in the cloud kitchen space, we are capturing white space in the food delivery market in Southeast Asia through our investment in CloudEats. It’s creating kitchen-level economics, all thanks to the company’s sophisticated technology and operational backbone, as well as the team’s unique data and partnership-driven approach to brand building.”

Source link

Show More

Leave a Reply

Your email address will not be published.

Back to top button