BANGALORE, India and LONDON, Dec. 22, 2023 /PRNewswire/ — Kitchens@, a leading powerhouse in the dynamic cloud kitchen industry, is thrilled to announce the successful acquisition of $65 million in funding from Finnest, an emerging growth investment firm headquartered in London. Significantly, Swiggy played a pivotal role as a major 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 Mr. Arun Kar (Ex Military) Finnest has previously made strategic investments across diverse sectors, including renewable energy, EV- Hydrogen automotives, sports & entertainment, smart cities, aerospace technologies, hotels and hospitality . The COO of Finnest, Mr.Arun Suraj has been the Lead Partner in this round of investment and the catalyst in their debut foray into the ever-evolving Food and Beverage industry.
Dr. Biswanath Patnaik expressed his confidence in Kitchens@, stating, ” 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, saying, “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.”
JK elaborated on their restaurant roll-up plan, emphasizing the wealth of brand equity present within the Indian market. He stated, “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.”
Drawing from his three decades of experience in the industry, JK stressed the importance of founder DNA and belief in the product for a brand’s success. He added, “Our restaurant roll-up plan is founded on these principles, and I am proud to say that we have established strong alignments with nearly all major brands. This presents a substantial opportunity for us and our investors to create something truly extraordinary.”
He went on to highlight the allocation of the raised funds for expanding their hybrid model, Dinerium. JK described Dinerium as a transformative dining experience that seamlessly combines offline and online elements, offering a diverse selection of premier brands right at patrons’ tables. He emphasized how corporate meetings and meaningful connections would now be fostered over exquisite meals, marking a departure from conventional norms.
In an impressive development earlier this year, Kitchens@ acquired Swiggy Access Kitchen, expanded its footprint to six major cities and 45 locations, boasting a network of 700 kitchens.
The future is indeed promising for Kitchens@ as they embark on their exciting journey with Finnest’s support.
About Finnest:
Finnest ( A BNP Group Company) is a UK-based growth investment firm that specializes in early-stage investments, supporting technology startups in areas such as banking, healthcare, consumer products, fintech, renewables, and enterprises committed to a brighter future. Finnest is led by a team of seasoned partners with deep domain expertise and global networks. Finnest prioritizes selectivity, becoming strategic partners who provide value beyond just financial capital.
Finnest specializes in early-stage investments, supporting technology startups in areas such as banking, healthcare, consumer products, fintech, renewables, and enterprises committed to a brighter future. They prioritize selectivity, becoming strategic partners who provide value beyond just financial backing. Their key focus areas include renewable energy, smart cities, EVs, healthcare, deep tech, fintech, and consumer marketplaces. Finnest is dedicated to driving innovation and progress in the entrepreneurial landscape.Top of Form
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SOURCE Kitchens@
