https://arab.news/yj54g
- So-called ‘cloud kitchens’, facilities built to produce food specifically for delivery, are becoming popular with investors
- Kitopi plans to add 50 locations in the US and 100 globally by the end of 2020
DUBAI: Kitopi, a shared kitchen platform for online food delivery, has raised $60 million in a new round of financing led by Knollwood Investment Advisory and Lumia Capital to expand its services, the company said on Monday.
The “Series B” financing, which is a round to fund growth, comes after it last raised $27.2 million in late 2018.
So-called ‘cloud kitchens’, facilities built to produce food specifically for delivery, are becoming popular with investors.
A similar startup launched by former Uber CEO Travis Kalanick reportedly attracted investment from the Saudi Arabia’s sovereign investment fund.
Kitopi, which is headquartered in Dubai and New York, operates 30 kitchens across the United States, United Arab Emirates, Saudi Arabia, United Kingdom and Kuwait.
The company plans to add 50 locations in the US and 100 globally by the end of 2020, it said in a statement.