ⓘ Image source: TheNational.ae
The Dubai, UAE-based Kitopi, a delivery platform for restaurants across UAE, US, UK, Kuwait and KSA yesterday raised $60 million in a Series B round led by US-based Knollwood and Lumia Capital with participation from existing investors including BECO, CE-Ventures, GIC, Rise Capital, Reshape, Global Ventures and Wilshire Lane Partners.
In conversation with The National, the CEO & Co-founder of Kitopi, Mohamad Ballout shared plans about the deployment of the fresh funds as…
“We’ll be using this money to: one, build kitchens globally – so increase our geographical footprint – particularly in the US. And, second, we’re investing in software technology to help build much more efficient operations,”
Chris Rogers, partner at Lumia Capital in a statement said…
“Kitopi has demonstrated its ability to differentiate itself from others in an increasingly crowded space, by collaborating closely with restaurants to achieve one common objective,”
“We’re excited to see how Kitopi continues to reinvent the food tech space.”
About Kitopi & business model
Founded in 2018 by Andres Arenas, Bader Ataya, Mohamad Ballout, Saman Darkan. The company partners with restaurants to help them expand through its platform of kitchens, trained chefs and a suite of applications, everything collectively abbreviated as SKOS (Smart Kitchen Operating System). Which means, Kitopi cooks and delivers the food to the customers on behalf of the restaurants. This helps restaurants to focus on their dining, marketing and menu development without the need for pondering over order fulfilment.
Kitopi currently operates 30 kitchens across US, UAE, KSA, UK and Kuwait. The startup has partnered with over 100 restaurants and has over 1200 employees.