CloudEats, A Women-Led Company, Raised  $7M To Expand Cloud Kitchens Across The Philippines And Vietnam

The demand for food delivery services is increasing globally, and technology is assisting these companies to enhance their business models. Weee! gained $425 million for its AI-powered food delivery company. The $15 billion Southeast Asian market is comparable to the rest of the world. According to a recent estimate by Frost & Sullivan, it is predicted to reach $50 billion by 2030. Furthermore, according to Euromonitor, the global market for cloud kitchens is expected to reach $1 trillion by 2030.

Southeast Asian cloud restaurant startup CloudEats has raised $7 million in a new investment round that was spearheaded by London-based VC Nordstar. Kitopi in the MENA region and Curefoods in India are among the market-leading cloud kitchen firms that Nordstar has sponsored.

As it works to modernize a sizable but firmly established food service sector, CloudEats has raised a total of $14 million to date.

In the first half of 2023, CloudEats plans to enter its third market after a successful launch in Vietnam. The business is also investing more in its smart kitchen technology, increasing the capabilities of its development team, and bringing on vital brand and marketing talent.

The money raised in this round will be used, in addition to regional development, to strengthen its category-winning brands, including Burger Beast, 24/7 Eats, and Sulit Chicken. Its top brand by order volume is a chicken brand that is focused on value.

“As a global investor in the cloud kitchen space, we are capturing the white space in Southeast Asia’s food delivery market through our investment in CloudEats. CloudEats generates the best brand and kitchen-level economics that we have seen in the market, and this is all due to not only the company’s sophisticated technology and operations backbone but also the team’s unique data and partnership-driven approach to brand building. Through the company’s recent expansion to Vietnam, we are already seeing proof points that the successful playbook that the team has built in its home market, the Philippines, is replicable to other markets in the region,” - Kimberley Ong, Principal at Nordstar.