Full-service cloud kitchen brand Kitopi raises $60M
Dubai- and New York-based Kitopi, which provides delivery-only managed cloud kitchens, announced a $60 million Series B funding round, according to Nation’s Restaurant News. This cash infusion tops off a $27.2 million Series A in late 2018. Knollwood and Lumia Capital led the round with participation from existing and new investors.
Kitopi, which currently operates 30 kitchens, is shorthand for Kitchen Operation Innovation. It functions like a franchised location without operators needing to rent kitchen space, like with other shared kitchen operations.
The platform takes care of services like aggregating orders, preparing food according to partner specifications and working with third-party delivery platforms. The new funding will be used to open 50 new delivery-focused kitchens in the U.S. and 100 globally by the end of 2020.
Reported by Restaurant Dive