Kitchens@, a Bengaluru-based cloud kitchen startup, has recently secured $65 million in Series C funding from Finnest, a London-based growth investment firm. This significant investment marks Finnest’s first foray into the food and beverage industry.
Dr Biswanath Patnaik, the Chairman and Founder of Finnest, expressed confidence in Kitchens@, acknowledging its pivotal role in shaping India’s cloud kitchen segment. Patnaik highlighted Kitchens@ as a critical player in the food and supply aggregator sector. It is mainly due to its strategic partnerships with significant entities like Swiggy and Beenext. Arun Suraj, Chief Operating Officer at Finnest, led the investment round, underlining the firm’s confidence in Kitchens@’s growth potential.
Junaiz Kizhakkayil, Founder and CEO of Kitchens@, expressed gratitude for earning the trust of notable investors like Finnest. He emphasized the significance of this investment in supporting the company’s growth strategy.
The freshly secured funds will be directed towards expanding Kitchens@’s hybrid model, Dinerium. This innovative model integrates offline and online elements to offer customers a diverse range of premier brands directly to their tables. Dinerium aims to create a unique dining experience, fostering connections and enabling corporate meetings over meals.
Earlier this year, Kitchens@ made headlines with its acquisition of Swiggy Access Kitchen, expanding its footprint to six major cities and 45 locations. This move added 700 kitchens to its network, further solidifying its position in the cloud kitchen industry. Swiggy, a significant investor during Kitchens@’s Series B funding round, played a notable role in this expansion.
Finnest, part of the BNP Group and founded by Indian-origin entrepreneurs Dr. Biswanath Patnaik and Arun Kar (ex-military personnel), specializes in early-stage investments. The firm supports technology startups across various sectors, including banking, healthcare, consumer products, fintech, and renewables.
The recent infusion of funds from Finnest not only signifies a substantial boost for Kitchens@ but also underscores the growing confidence in the burgeoning cloud kitchen sector in India. This investment is poised to further accelerate the startup’s expansion plans and innovative dining experiences through its hybrid model, cementing its position as a leader in the evolving food and beverage industry landscape.
