Kitopi to focus on MENA region, enters unicorn club with latest funding round
Kitopi to focus on MENA region, enters unicorn club with latest funding round

Dubai-based cloud-kitchen brand Kitopi is focusing on MENA region and aims at becoming the number one player in the market.

Kitopi has grown at a fast-paced by operating over 60 kitchens in UAE, Saudi Arabia, Kuwait, and Bahrain,

It has also partnered with more than 200 brands, including the likes of Shake Shack, KLC Virtual Restaurants, Luca, Papa John’s and IHOP to expand its cloud-kicthen business in the region.

Kitopi recently announced that it has successfully raised $415 million in a Series C led by SoftBank Vision Fund 2. The round also saw participation from Chimera, Abu Dhabi’s DisruptAD, Riley, Dogus Group, Next Play Capital, and Nordstar.

As per media reports, though the valuation details remain undisclosed, it is noted that Kitopi had crossed the $1 billion valuation mark, which makes it the latest Middle East unicorn and the fastest one yet.

Founded in January 2018, Kitopi today operates 200 brands, across 5 countries, operating 60+ kitchens. Last year in April, they also launched a grocery vertical called Shop Kitopi - a one-stop-shop for essentials and other food items, that delivers anywhere in Dubai, in 60 minutes or less.

 
Stay on top – Get the daily news from Indian Retailer in your inbox
Also Worth Reading