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- Kitchens@ secures impressive $65M Series C funding from thriving growth investment firm Finnest
BANGALORE, India and LONDON, December 22, 2023 /PRNewswire/ -- Kitchens@, a leading power in the dynamic cloud kitchen sector, is pleased to announce the successful acquisition of $65 million in financing from Finnest , an emerging growth investment firm based in London. Notably, Swiggy played a pivotal role as a lead investor in Kitchens@ during the series B funding round. Notably, Finnest (a BNP company), founded by two visionary Indian-origin investors and entrepreneurs, Dr. Biswanath Patnaik and Arun Kar (ex-army), has previously made strategic investments in various sectors such as renewable energy, electric and hydrogen automobiles, sports and entertainment, smart cities, aerospace technologies, hotels and hospitality. Arun Suraj, COO of Finnest, was the lead partner in this investment round and the catalyst for his first foray into the constantly evolving food and beverage sector.
Expressing confidence in Kitchens@, Dr. Biswanath Patnaik commented, “Kitchens@ has played a pivotal role in shaping the landscape of the cloud kitchen segment in India, emerging as a key player in the aggregator sector. of food and supplies. Our confidence in the future of this company is unwavering, thanks to the astute leadership of our founder and CEO, Junaiz Kizhakkayil. We anticipate a substantial business turnaround in the coming years, especially with strategic partnerships underway with major entities such as Swiggy and Beenext.”
Junaiz Kizhakkayil (JK), Founder and CEO of Kitchens@, reflected on the company's journey: "Our journey over the past few years has been extraordinary. We have faced many challenges but have steadfastly maintained our vision and objectives. "It is immensely gratifying to have earned the trust of such notable investors as Finnest. My sincere thanks to Dr. Biswanath Patnaik, Arun kar and Arun Suraj for believing in our growth strategy."
JK explained his restaurant expansion plan, emphasizing the richness of brand equity present in the Indian market. Creating these brands has been a painstaking journey, in which dedicated people have invested their hard-earned resources, time and unwavering commitment. Today, we are witnessing several such brands with the potential to not only dominate the Indian market but also make a significant impact on the global stage.”
Drawing on his three decades of experience in the sector, JK stressed the importance of the founder's DNA and believing in the product for the success of a brand. He added: "Our restaurant expansion plan is based on these principles, and I am proud to say that we have established strong partnerships with almost all the big brands. This represents a great opportunity for us and our investors to create something truly extraordinary."
He then highlighted the allocation of the funds raised to the expansion of its hybrid model, Dinerium. JK described Dinerium as a transformative dining experience that seamlessly blends offline and online elements, delivering a diverse selection of premium brands directly to customers' tables. He emphasized how corporate meetings and meaningful connections will now be fostered through fine dining, a break from conventional norms.
Earlier this year, Kitchens@ acquired Swiggy Access Kitchen and expanded its presence to six major cities and 45 outlets, with a network of 700 kitchens.
The future is bright for Kitchens@, which embarks on its exciting journey with the support of Finnest.
Finnest (a BNP Group company) is a UK-based growth investment firm specializing in early stage investments, supporting technology start-ups in areas such as banking, healthcare, consumer products, fintech, renewable energy and companies committed to a brighter future. Finnest is led by a team of experienced partners with deep industry experience and global networks. Finnest prioritizes selectivity, becoming strategic partners that provide value beyond financial capital.
Finnest specializes in early stage investments, supporting technology startups in areas such as banking, healthcare, consumer products, fintech, renewables and companies committed to a better future. They prioritize selectivity, becoming strategic partners that provide value beyond mere financial support. His main areas of interest are renewable energy, smart cities, electric vehicles, healthcare, advanced technology, financial technologies and consumer markets. Finnest is dedicated to driving innovation and progress in the business landscape. Top of Form
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