Speed Kitchen Secures Seed Funding Led by Inflection Point Ventures
Speed Kitchen, a kitchen-as-a-service startup, has raised a seed round led by Inflection Point Ventures with participation from other HNIs & angel investors.
As per the startup, the freshly raised funds will be used for expanding and increasing the footprint pan-India and hiring a team that could accelerate the expansion.
Speed Kitchen | Hygienic And Fully Equipped Commercial Kitchens
Founded by Paurav Rastogi and Shamin Kapoor in 2021, Speed Kitchen provides ready-to-move-in, hygienic and fully equipped commercial kitchens on a revenue-share basis.
It is a one-stop solution to all cloud kitchen needs right from finding the ideal location for the culinary operation to building an F&B brand.
Speaking about the development, Paurav Rastogi, Founder of Speed Kitchen, said,
“One of the most enlightening experiences, got to learn a lot about the startup world, processes and network with some great minds. We at Speed Kitchen are aiming to become the leading Cloud Kitchen infrastructure in the Indian market, the first step of which is to expand to 20+ locations and cross 200+ operational kitchens by the end of FY 23-24.”
Speed Kitchen also provides brands with low capital expenditure and operating expenses and an easy expansion into new geographies. Its vision is to expand the value chain and become an infrastructure service provider for all F&B needs.
Speed Kitchen has expanded across Delhi-NCR, Jaipur, Pune, Bangalore and Mumbai in the last 18+ months. The startup claims to have a strong pipeline of brands and kitchen partners and will be focusing on expanding its presence to other Tier 1 and Tier 2 Cities.
Commenting on the development, Madhukar Bhardwaj, Senior Vice President at Inflection Point Ventures, said,
“Over the years, cloud kitchen has witnessed a significant rise, especially post-COVID. While the brand’s cost is significantly reduced, with the cloud kitchen concept, it still has to consider multiple factors like kitchen setup, maintenance services, location and much more. Keeping this in mind Speed Kitchen has developed a unique commercial shared kitchen concept which will further reduce the cost to run a kitchen.”
Growing at a CAGR of 39%, the Cloud Kitchen industry has been valued at $800 million in FY-22. The industry is expected to reach $1.9Bn by 2026.
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