New Delhi: KAAS startup Speed Kitchen raises Seed round led by Inflection Point Ventures with participation from other HNIs & angel investors. The funds will be used for expansion and increasing the footprint pan-India, and hiring a team that could accelerate the expansion. Speed Kitchen’s vision is to expand the value chain and become an infrastructure service provider for all F&B needs.
- The funds raised will be used to expand the operations geographically and to strengthen the team
- Inflection Point Ventures (IPV) has so far invested over INR 550 Cr across 170+ deals
Speed Kitchen was founded in 2021 by Paurav Rastogi (CEO) and founding partner Shamin Kapoor. Paurav is a seasoned growth leader with over 10 years of Proptech and Hospitality expertise with first-hand experience in managing and conceptualizing real estate projects. Shamin is a sales and marketing professional with over 5 years of experience in working and building tech startups and a keen interest in the F&B and real estate industry.
Madhukar Bhardwaj, Senior Vice President of Inflection Point Ventures, says, “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. Additionally, it aims to provide new cloud-kitchen startups, entrepreneurs, and restaurant chains with shared space, which is a fully equipped, licensed kitchen at a prime location with end-to-end maintenance services. Thus, enabling brands to focus on their business and expand faster to newer markets.
Speed Kitchen is a one-stop solution to all cloud kitchen needs from finding the ideal location for the culinary operation to building an F&B brand. It also provides brands with low capital expenditure and operating expenses and an easy expansion into new geographies.
Paurav Rastogi, Founder of Speed Kitchen, says, “One of the most enlightening experiences, got to learn a lot about the start-up 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.”
At a CAGR of 39%, the Cloud Kitchen industry has been valued at $800 million in FY 22, which is expected to reach $1.9Bn by 2026. However, modern-day cloud kitchen brands are facing multiple challenges in terms of space acquisition, infra-setup, maintenance and service. Speed Kitchen, a Cloud kitchen infrastructure company, is solving a lot of such pain points by building an asset-light Kitchen as a Service business model. The Brands are provided with a fully operational cloud kitchen at a prime location coupled with end-to-end maintenance services (on-premise operational and facility support), enabling faster and hassle-free expansion to newer markets with minimal investment.
In the last 18+ months, the company has expanded across Delhi-NCR, Jaipur, Pune, Bangalore and Mumbai. They have a strong pipeline of brands and kitchen partners and will focus on expanding their presence to other Tier 1 and Tier 2 Cities.
About Speed Kitchen
Speed Kitchen is a KAAS company which is based out of New Delhi, India. Speed Kitchen is providing cloud kitchens to delivery-focused brands. It is currently operational in 5 cities with 10 locations and 120+ kitchens.
About Inflection Point Ventures & Physis Capital
Inflection Point Ventures (IPV) is an angel investing platform with over 7400 CXOs, HNIs, and Professionals to invest together in start-up’s. The firm supports new-age entrepreneurs by providing them with monetary & experiential capital and connecting them with a diverse group of investors. IPV has announced the launch of a $50 million CAT 2 AIF Physis Capital to invest in pre-Series A to Series B growth-stage start-ups.