Cloud kitchen startup Kitchens@ has successfully raised $65 million (INR 541 crore) in its Series C funding, with UK-based investment firm Finnest contributing to the funding round.
Utilizing the newly acquired funds, the startup plans to scale up its hybrid model, Dinerium.
Dinerium, combining casual dining with brand indulgence, is set to debut shortly. Featuring advanced booking and pre-ordering systems, it aims to streamline the dining experience, minimizing waiting times.
Earlier this year, Kitchens@ expanded its reach to six major cities and 45 locations by acquiring Swiggy Access Kitchen, thereby establishing a network of 700 kitchens.
Finnest, a BNP company established by Biswanath Patnaik and Arun Kar, has made investments across diverse sectors, including renewable energy, EV-hydrogen automotive, sports and entertainment, smart cities, aerospace technologies, and hotels and hospitality.
“Anticipating a substantial business turnaround in the coming years, especially with strategic partnerships in place with major entities like Swiggy and Beenext,” said Patnaik.
Junaiz Kizhakkayil (JK), founder & CEO of Kitchens@, elaborated on their restaurant roll-up plan, emphasizing the wealth of brand equity present within the Indian market.
He said, “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.”
Loyal Hospitality currently operates and owns Kitchens@. The company secured $16.2 million in its Series B funding round in February 2020. Subsequently, in May of the same year, the startup raised an additional $2.6 million in venture debt from Trifecta Capital.
Founded in 2018 by Kizhakkayil, Bengaluru-based Kitchens@ began operations with initial seed capital from Zomato and later bought back the shares from the delivery giant in 2019.
