The London-based investment firm Finnest has provided US $65 million in series C funding to Kitchens@, an Indian cloud kitchen startup.
Owned by Loyal Hospitality, the startup offers infrastructure, technology, and operational support, among other services, to food chains, such as Domino’s, Subway, Taco Bell, and Nando’s, to help them expand.
Kitchens@ operates in six Indian cities, reaching 700 kitchens.
The money will go toward growing Dinerium, a hybrid business model that reduces customer wait times by fusing premium dine-in service with online ordering.
Additionally, Kitchens@ plans to expand its business by partnering with and purchasing well-known restaurant brands in the Indian market.
Through a share swap agreement, the company recently acquired Swiggy’s cloud kitchen business. As part of the deal, the Bangalore-based meal delivery service, which had previously sold Swiggy Access Kitchens to save money, acquired stock in Kitchens@.
Kitchen@’s combined gross merchandise value (GMV) was US $65 million following the acquisition. By September 2023, the startup hopes to raise that amount to US $100 million.
