A cloud kitchen, also known as a ghost kitchen or a shared kitchen, is a kitchen space that can be used for food delivery and takeout. This trend has been going on for a while. Cloud kitchens are being used by food entrepreneurs to cut costs and capture the growth of food delivery.
A Manila-headquartered startup called CloudEats, which operates cloud kitchens across the Philippines and Vietnam, just raised a $7 million Series A extension.
On the back of its successful launch in Vietnam earlier this year, the startup plans to expand into Southeast Asian countries such as Thailand, Malaysia and Indonesia in the years to come.
The growth of our Vietnam business over the last couple of quarters is very encouraging. The next market launch is where we are taking the best practices.
The food delivery market in Southeast Asia is expected to grow at a faster rate than the cloud kitchen market over the course of the next two decades.
When it raised its Series A in October of 2021, the startup had seven cloud kitchens in the Philippines. From October last year to April this year, its revenue has grown by four times.
CloudEats will be able to double down on its investment in the shared kitchen technology thanks to the new funding.
Iacopo Rovere, co- founder of CloudEats, said the company will focus on its suite of integrated software as a service solutions for food service and brand building in the next year. The company now has more than 30 brands in the Philippines and over 20 in Vietnam, and is expanding.
The image was created by CloudEats.
There is a hybrid cloud kitchen and cloud restaurant model where the company is not only an operator of the infrastructure but also the owner of the digital natives.
Over fifty online restaurant brands that we create and manage exclusively across the Philippines and Vietnam are owned and operated by us. The smart kitchen technology allows us to scale up and grow quickly.
A serialentrepreneur with more than ten years of experience in retail R&D and on-demand e- commerce, he co-founded CloudEats with Iacopo Rovere, the former CEO of Foodpanda, who has an extensive background in food delivery service in Berlin and India. CloudEats has served more than 2 million orders.
The new capital brings the total funding to 14 million dollars.
The white space in Southeast Asia's food delivery market is being captured by our investment in CloudEats. The best brand and kitchen-level economics that we have seen in the market are due to the team's unique data and partnership-driven approach to brand building.
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