Kitchen United Cooks Up a Storm: Secures $100M to Expand Ghost Kitchen Empire.
Kitchen United, a prominent ghost kitchen operator, recently secured $100 million in Series C funding, with contributions from several new investors, including Kroger, Circle K, and Simon Property Group. This substantial financial injection, which brings the company’s total funding to approximately $175 million, aims to facilitate a massive expansion from 15 to over 500 locations in the next five years. The expansion strategy involves utilizing many of the malls, shopping centers, and supermarkets operated by the new investors.
Investors remain optimistic about Kitchen United’s business model despite the financial challenges facing the restaurant technology sector, including inflation and rising interest rates that have led to layoffs at several companies. The company, which has experienced triple-digit growth in its top line for three consecutive years, plans to focus its expansion in major cities like Los Angeles and New York City while also exploring opportunities in other regions. Collaborations with Simon Property Group and Kroger have already resulted in the opening of virtual food courts and in-store ghost kitchens, offering customers a diverse range of dining options through the Kitchen United Mix app.
David Krane, CEO and managing partner at GV, emphasized that the increasing trend of off-premises dining presents a significant growth opportunity for the ghost kitchen sector, positioning Kitchen United for substantial expansion in the coming years.
The original 2022 article is “Kitchen United secures $100M.“