Fork N Knife, a cloud kitchen company, has raised $800,000 in its seed funding round to expand its business in European and African markets by the end of this year, according to a report by Zawya.
The capital was raised from a group of angel investors and institutions outside the Middle East.
The news agency quoted Fork N Knife co-founder and CEO Yasser Nasr-Aldinas saying, “Having been in the cloud kitchen industry for eight years, I saw the need for a new model that solves the real challenges faced by restaurant owners.
“We decided to challenge the conventions by offering our CAAS model, which completely removes the fixed costs that eat up the profits of restaurant owners.
“We also leverage technology to enhance the food production process and support our partners to excel in the growing food market.”
The funds will be utilized to bolster the company’s commitment to advancing the food tech sector via its “Cooking As A Service” (CAAS) model.
Its approach is purportedly distinct from the conventional fixed-fee frameworks employed by traditional cloud kitchens.
Fork N Knife asserts that its CAAS model enables restaurant and food concept developers to expand their businesses without requiring any initial investment.
As of now, Fork N Knife has three establishments in Turkey.
Nasr-Aldin added, “The success of this seed funding round reflects the confidence of the investors in Fork N Knife and the huge potential we have to transform the food industry in the region.
“We have also started negotiations for our Series A funding round, which shows the strong interest and trust in our innovative approach to cloud kitchens.”
