Cloud kitchen startup CloudEats raises more capital to ramp up expansion in Southeast Asia • TechCrunch

A cloud kitchen—also known as a ghost kitchen or communal kitchen—provides restaurateurs and food entrepreneurs with low-cost commercial kitchen space for food delivery and takeout. This trend was all about the restaurant industry. More food entrepreneurs are turning to cloud kitchens to reduce operating costs and take advantage of the explosive growth in food delivery.

A Manila-based startup called CloudEatsLtd., which operates cloud kitchens across the Philippines and Vietnam, just raised $7 million from its Extension Chain A led by Nordstar To accelerate the digitization of food services in Southeast Asia.

On the back of its successful launch in Vietnam earlier this year, the startup plans to make a foray into Southeast Asian countries such as Thailand, Malaysia and Indonesia in 2023, co-founder and CEO Kimberly Yao said in an interview.

“The phenomenal growth of our business in Vietnam over the past two quarters is very encouraging,” Yao said. “We take best practices along with essential knowledge for the upcoming market launch.”

Cloud kitchen market is expected to grow in Asia at 14.2% annually from 2021 to 2027; The food delivery market is expected to be in Southeast Asia 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 first batch in October 2021; Working now 25 ghost kitchens Across the Philippines and Vietnam, Yao told TechCrunch. Its revenue volume in Vietnam has grown 4 times since April this year from October last year, according to Yao.

The latest funding will also enable CloudEats to grow its brands, grow its team, and double investment in shared kitchen technology.

CloudEats co-founder Iacopo Rover said the company’s main focus in the next 12 months will be developing its suite of integrated SaaS solutions for food service and enhancing brand building and marketing efforts. has now More than 30 brands in the Philippines and more than 20 brands in VietnamIncluding Best Burger24/7 eats chicken solitaire, Bia’s KitchenAnd the healthy appetiteand expanding its portfolio.


Image credits: CloudEats

CloudEats has a hybrid cloud kitchen and a cloud restaurant model where the company is not only an infrastructure operator but also an owner of digitally original brands.

“Today, we own and operate more than 50 optimized online restaurant brands, created and operated exclusively across the Philippines and Vietnam,” Yao told TechCrunch. Our smart kitchen technology Integrating with food delivery platforms allows us to scale and grow the business quickly.”

Yao, a serial entrepreneur with over a decade of experience in retail R&D and on-demand e-commerce, co-founded CloudEats in 2019 with Iacopo Rover, former CEO of Foodpanda, who has an extensive background in food delivery service in Berlin and India. CloudEats says it has made more than 2.5 million requests.

Combined with the previous round of $5 million, the latest venture capital brings its total funding to $14 million.

“As a global investor in the cloud kitchen space, we are capturing the white space in the Southeast Asian food delivery market with our investment in CloudEats,” said Kimberly Ong, Director, Nordstar. “CloudEats produces the best brand and kitchen economics we’ve seen on the market, and it’s all because of the company’s cutting-edge technology and operations backbone but also the team’s unique data and partnership-based approach to brand building.”

Source link

Related Posts