Kitchens@: Cloud kitchen service provider Kitchens@ raises Rs 540 crore in funding

The Bengaluru-based firm did not disclose the valuation at which the funding took place, but the entire amount came in primary funding, its chief executive Junaiz Kizhakkayil told ET.

The company had earlier raised funds from the likes of DG Ventures and Beenext.

Kitchens@ provides services like ready-made kitchen setup, as well as supply chain and hiring support to cloud kitchens. It works with a number of restaurants such as Taco Bell, Subway, Nando’s, Mainland China, Domino’s, Barbeque Nation, Chaayos and Wow Momos across the country, according to its website.

The firm said it will use the funds raised in this round for its omnichannel, multi-brand fine dining experience called Dinerium.

It is looking to open 150 Dinerium outlets in the next 18 months across the country, with seating capacities ranging between 600 and 1,500, where customers will be provided access to fine dining from across 15 brands, said Kizhakkayil.

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The core business of servicing cloud kitchens has a presence in 45 locations across six major cities, servicing 700 kitchens, the firm said in a statement.This is the first time it is expanding into a direct restauranting service, diversifying from its cloud kitchen roots. “This funding round is completely a brand acquisition play for the Dinerium business,” Kizhakkayil said.

Kitchens@ earned Rs 180 crore in revenue in 2022-23, he said, and is looking to close 2023-24 with Rs 600 crore in revenue, while being profitable at an EBITDA (earnings before interest, taxes, depreciation and amortisation) level.

In March, food delivery firm Swiggy sold its cloud kitchen business, called Swiggy Access, to Kitchens@ in a share swap deal.

The Bengaluru-based firm did not disclose the valuation at which the funding took place, but the entire amount came in primary funding, its chief executive Junaiz Kizhakkayil told ET.

The company had earlier raised funds from the likes of DG Ventures and Beenext.

Kitchens@ provides services like ready-made kitchen setup, as well as supply chain and hiring support to cloud kitchens. It works with a number of restaurants such as Taco Bell, Subway, Nando’s, Mainland China, Domino’s, Barbeque Nation, Chaayos and Wow Momos across the country, according to its website.

The firm said it will use the funds raised in this round for its omnichannel, multi-brand fine dining experience called Dinerium.

It is looking to open 150 Dinerium outlets in the next 18 months across the country, with seating capacities ranging between 600 and 1,500, where customers will be provided access to fine dining from across 15 brands, said Kizhakkayil.

Discover the stories of your interest

The core business of servicing cloud kitchens has a presence in 45 locations across six major cities, servicing 700 kitchens, the firm said in a statement.This is the first time it is expanding into a direct restauranting service, diversifying from its cloud kitchen roots. “This funding round is completely a brand acquisition play for the Dinerium business,” Kizhakkayil said.

Kitchens@ earned Rs 180 crore in revenue in 2022-23, he said, and is looking to close 2023-24 with Rs 600 crore in revenue, while being profitable at an EBITDA (earnings before interest, taxes, depreciation and amortisation) level.

In March, food delivery firm Swiggy sold its cloud kitchen business, called Swiggy Access, to Kitchens@ in a share swap deal.