UAE’s cloud kitchen Kitopi raises $300m in a Series C round

UAE’s cloud kitchen Kitopi raises $300m in a Series C round

Kitopi, UAE-based cloud kitchen operator, raised an additional $300 million to its $415 million Series C round late last year, extending the round’s size to $715 million.

The startup’s Series C round was led by SoftBank Vision Fund 2 and saw participation from Chimera, DisruptAD, B. Riley, Dogus Group, Next Play Capital and Nordstar. This round marks SoftBank Vision Fund 2’s first investment in a UAE-headquartered company.

Founded by Mohamad Ballout, Saman Darkan, Bader Ataya and Andy Arenas, Kitopi offers cloud kitchen services, sourcing ingredients, aggregating orders, preparing and delivering meals for restaurant brand owners.

Since commencing its operations in 2018, the startup’s network of brands has grown to more than 200 operating across five markets, including UAE, Saudi Arabia, Qatar, Bahrain and Kuwait with plans to expand to South East Asia.

Read more: Kitopi’s Valuation Reaches $1 Billion Following Series C Funding

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