SUMMARY
The raised funds would be allocated to expand the company's hybrid model, Dinerium
Kitchens@ acquired Swiggy Access Kitchen, expanding to six major cities and 45 locations, with a network of 700 kitchens
Kitchens@ is currently operated and owned by Loyal Hospitality
Cloud kitchen startup Kitchens@ has raised $65 Mn (INR 541 Cr) in its Series C funding from UK-based investment firm Finnest.
The startup will deploy the fresh funds to expand its hybrid model Dinerium.
Dinerium, offering a blend of casual dining and brand indulgence, will be launched soon. With advanced booking and pre-ordering systems, it will streamline dining for minimal waiting.
Earlier this year, Kitchens@ acquired Swiggy Access Kitchen, expanding to six major cities and 45 locations, with a network of 700 kitchens.
Finnest, a BNP company, founded by Biswanath Patnaik and Arun Kar, has invested in various sectors such as renewable energy, EV-hydrogen automotive, sports and entertainment, smart cities, aerospace technologies, 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, emphasising 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.”
Kitchens@ is currently operated and owned by Loyal Hospitality. It had raised $16.2 Mn in its Series B funding round in February of 2020. Later that year in May, the startup raised another $2.6 Mn in venture debt from Trifecta Capital.
Founded in 2018 by Kizhakkayil, Bengaluru-based Kitchens@ began operations with initial seed capital from Zomato and then later bought back the shares from the delivery giant in 2019.
