Dubai: The Dubai-based cloud kitchen operator Kitopi is cooking up its next growth plans. As part of this, it will be investing in regional F&B groups and widening its regional reach simultaneously.
In the next 24 months, Kitopi will invest up to $1 billion in food brands that have synergy with its operating platform. Kitopi now has initial exposures in five major F&B groups - Cloud Restaurants (which owns Go! Greek and Go! Healthy), Leap Nation (operator of Tawook Nation and Luca), Right Bite, Under500, and Ichiban, a sushi delicacies brand.
The strategy will “allow brands to leverage Kitopi’s proprietary technology and infrastructure to grow at an accelerated pace while preserving the customer experience”.
Kitopi has the funds in plenty to seed its investment strategy. It recently picked up $415 million via a Series C funding. “Over the past three-and-a-half years, we have had the privilege to partner with some of the best international, regional and local brands in the F&B space,” said Kitopi co-founder and CEO Mohamad Ballout.
“Working with them has made us see tremendous untapped growth potential. As such, we have decided to invest in such brands as it allows us to help them maximize their potential while supporting the F&B ecosystem with our tech-powered kitchens. The decision to invest in brands has come following our conviction that in a post-pandemic world, operating, growing, and scaling brands have become increasingly complex.”