The shifting preferences toward online food delivery services and the increasing penetration of smartphones and high-speed internet connectivity are primarily driving the India cloud kitchen market. The Indian cloud kitchen market is expected to grow at a compound annual growth rate (CAGR) of 24% and reach $1.9 billion by 2026.
Catching up on this growth, Kitchens@, a cloud kitchen startup, has gobbled raised $65 million in Series C funding from London-based growth investment firm Finnest. Founded by two Indian-origin investors and entrepreneurs – Dr. Biswanath Patnaik and Mr. Arun Kar (ex-military officer), Finnest previously invested in sectors, including renewable energy, electric and hydrogen-powered automotive, sports and entertainment, smart cities, hotels and hospitality, and aerospace technologies.
Expansion of its platform
The funds will be used to expand the startup’s hybrid model, Dinerium. It is a transformative dining experience that combines offline and online elements, offering a diverse selection of premier brands right at patrons’ tables. It changes the way corporate meetings and meaningful connections will be fostered over exquisite meals, marking a departure from conventional norms.
Online kitchen aggregator
Founded by Junaiz Kizhakkayil in 2015 in Bangalore, India, Kitchens@ is an internet-first kitchen aggregator with a presence across high-demand locations. Its turnkey solution for F&B brands offers services, including world-class kitchens, on-site maintenance, audit as per FSSAI guidelines, waste management, manpower hiring & training, culinary operations, and much more.
Earlier this year, Kitchens@ acquired Swiggy Access Kitchen, and expanded its footprint to six major cities and 45 locations, boasting a network of 700 kitchens.
Commenting on the investment, Dr. Biswanath Patnaik, co-founder of Finnest, said: “Kitchens@ has played a pivotal role in shaping the landscape of the cloud kitchen segment in India, emerging as a key player in the Food and Supply Aggregator sector. Our confidence in the future of this venture is unwavering, thanks to the astute leadership of our Founder and CEO, Mr. Junaiz Kizhakkayil. Anticipating a substantial business turnaround in the coming years, especially with strategic partnerships in place with major entities like Swiggy and Beenext.”
Junaiz Kizhakkayil (JK), the Founder & CEO of Kitchens@, reflected on the company’s journey, said, “Our path over the past few years has been nothing short of remarkable. We’ve encountered numerous challenges but have steadfastly upheld our vision and goals. It is immensely gratifying to have earned the trust of prominent investors like Finnest. I extend my heartfelt gratitude to Dr. Biswanath Patnaik, Mr. Arun Kar, and Mr. Arun Suraj for believing in our growth strategy.”
