Ghost kitchen technology company Kitchen United announced Monday a $100 million round of series C fundraising, with new investors from a variety of industries, including Burger King parent Restaurant Brands International, supermarket company, the Kroger Co., Simon shopping malls company, and convenience store chain, Couche-Tard / Circle K.
To date, Kitchen United has raised $175 million, and has included some high-profile fundraisers, including retired NFL quarterback Peyton Manning, who also contributed to this round of Series C funding.
"This Series C financing further solidifies Kitchen United's leadership position in the industry," Michael Montagano, Kitchen United's CEO, said in a statement. "Kitchen United uniquely sits at the intersection of technology, food, and real estate. Our solution serves as the technological and physical infrastructure revolutionizing centrally located distribution hubs through streamlining off-premises ordering and consumption. To that end, we are thrilled to partner with leading investors across grocery, convenience, restaurants, malls, packaging, logistics, distribution, automation, and urban and suburban real estate development.”
Other companies that invested in Kitchen United this time around include B. Riley Venture Capital, a subsidiary of B. Riley Financial, shopping center developer Phillips Edison & Co., and supply chain manager, The HAVI Group.
"We see many commercial opportunities in partnering with Kitchen United as it prepares for considerable scale,” Kevin Lewis, CMO of Alimentation Couche-Tard said in a statement. “We believe this business stands apart from other industry players with its centralized locations, multi-format offerings, experienced management team, and mature technology stack — all of which align with Circle K's mission to make our customers' lives a little easier every day as we work together to shape the future of convenience.”
This diverse round of investors proves that ghost kitchen and off-premises technology extends beyond strictly restaurant chains and can be useful within the retail and entertainment industries. Kroger already has opened multiple Kitchen United restaurants within their stores, further blurring the boundaries between retail and hospitality. In February, Simon malls had announced its partnership with Kitchen United to open virtual restaurants inside malls, with test locations that launched in California and on Long Island.
Kitchen United will continue its expansion plans in Los Angeles, New York City, Chicago, and Texas, with continued expansion in other markets. The company also keeps adding brands to its digital ordering platform, which now includes Burger King, Popeyes, Chick-Fil-A., Portillo's, Panera Bread, Dog Haus, Wingstop, and Brinker International.
Contact Joanna at [email protected]
Find her on Twitter: @JoannaFantozzi