Kitchens@, an India-based cloud kitchen startup, has raised $65 million in Series C funding from Finnest, an emerging growth investment firm headquartered in London.
Kitchens@ said in a statement on last Friday that the raised funds will be used for expanding the firm’s hybrid model, Dinerium.
Junaiz Kizhakkayil (JK), the Founder and Chief Executive Officer of Kitchens@ described Dinerium as a transformative dining experience that seamlessly combines offline and online elements, offering a diverse selection of premier brands right at patrons’ tables.
He emphasized how corporate meetings and meaningful connections would now be fostered over exquisite meals, marking a departure from conventional norms.
“Our path over the past few years has been nothing short of remarkable. We’ve encountered numerous challenges but have steadfastly upheld our vision and goals,” he said.
He also elaborated on their restaurant roll-up plan, emphasizing the wealth of brand equity present within the Indian market
“The establishment of these brands has been a laborious journey, with dedicated individuals investing their hard-earned resources, time, and unwavering commitment,
“Today, we witness several such brands with the potential not only to dominate the Indian market but also to make a significant impact on the global stage,” he said.
He also stressed the importance of founder DNA and belief in the product for a brand’s success.
“Our restaurant roll-up plan is founded on these principles, and I am proud to say that we have established strong alignments with nearly all major brands,
“This presents a substantial opportunity for us and our investors to create something truly extraordinary,” he added.
It is noted that Swiggy also played a pivotal role as a major investor in Kitchens@ during the Series B funding round.
In an impressive development earlier this year, Kitchens@ acquired Swiggy Access Kitchen, expanded its footprint to six major cities and 45 locations, boasting a network of 700 kitchens.
Dr. Biswanath Patnaik, Founder of Finnest, said that Kitchens@ has played a pivotal role in shaping the landscape of the cloud kitchen segment in India, emerging as a key player in the food and supply aggregator sector.
He said that his confidence in the future of this venture is unwavering.
He also anticipates a substantial business turnaround in the coming years, especially with strategic partnerships in place with major entities like Swiggy and Beenext.
Finnest, A BNP Group Company, is a United Kingdom-based growth investment firm that specializes in early-stage investments, supporting technology startups in areas such as banking, healthcare, consumer products, fintech, renewables, and enterprises committed to a brighter future.
Finnest specializes in early-stage investments, supporting technology startups in areas such as banking, healthcare, consumer products, fintech, renewables.
Their key focus areas include renewable energy, smart cities, electric vehicles (EVs), healthcare, deep tech, fintech, and consumer marketplaces.
Finnest has previously made strategic investments across diverse sectors, including renewable energy, EV-hydrogen automotives, sports and entertainment, smart cities, aerospace technologies, hotels and hospitality.
The Chief Operating Officer of Finnest Arun Suraj has been the Lead Partner in this round of investment and the catalyst in their debut foray into the ever-evolving food and beverage industry.
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