CloudEats, a Manila, Philippines-based startup that operates cloud kitchens across the Philippines and Vietnam, raised a $7 million Series A extension, bringing its total funding to $14 million.
Nordstar led the round to accelerate the digitization of food service in Southeast Asia. The latest funding will also enable CloudEats to develop its brands, grow its team and double down on investment in the shared kitchen technology.
After a successful launch in Vietnam this year, the business wants to expand to Thailand, Malaysia, and Indonesia in 2023
When it raised its Series A round in October 2021, the business had seven cloud kitchen locations in the Philippines; it now operates 25 ghost kitchens across the Philippines and Vietnam.
In the following year, the company will focus on developing its SaaS solutions for food service and increasing brand creation and marketing. CloudEats has more than 30 brands in the Philippines and 20 in Vietnam, including Burger Beast, 24/7 Eats, Sulit Chicken, Pia's Kitchen, and Healthy Appetite.
Company: CloudEats, Inc.
Raised: $7.0M
Round: Series A ext.
Funding Month: September 2022
Lead Investors: Nordstar
Additional Investors:
Company Website: https://www.cloudeats.com/
Software Category: Cloud Kitchen Tech
About the company: CloudEats is a cloud restaurant company creating next-generation digital brands and proprietary cloud kitchen technology. Its proprietary smart kitchen technology integrated with food delivery platforms allows CloudEats to scale up and grow the business quickly. It has served over 2.5 million orders and is looking forward to catering to more hungry customers across Southeast Asia. CloudEats with a mission of building the largest tech-enabled online food group in Southeast Asia.
Source: https://techcrunch.com/2022/09/22/cloud-kitchen-startup-cloudeats-raises-more-capital-to-fuel-its-southeast-asia-expansion/