Sweetheart Kitchen raised $17.7M investment in the Series C round.
Dubai, UAE-based Sweetheart Kitchen, on Sunday, 11 October 2020, announced a $17.7M (€15 million) Series C funding, led by Peter Schatzberg, Sweetheart Kitchen’s own CEO.
The funds will be used to fuel the cloud kitchen’s growth and optimize its food delivery supply technology.
Sweetheart Kitchen is a private label multi-brand virtual kitchen that uses advanced cooking techniques, and technology backed manufacturing processes to develop and produces consistently high quality, and fresh delivery only food that can be delivered to customers in a matter of minutes.
The company has a portfolio of more than 25 quick service and fast-food concepts.
Peter Schatzberg, in a statement said,
“We invest most of our funding into supply chain technology, food design, and hiring talent. This will continue in 2021, as we are just fifteen months old and we are still perfecting our business model. Scaling units is certainly one important objective for us, but we are also investing in streamlining our processes and systems to achieve profitability. We look forward to even more milestones in this next stage of the company’s growth.”
Having previously raised €21 million and launched 30 brands, the company now plans to launch five additional brands.
Adib Samara, VP Global Brand & Marketing at Sweetheart Kitchen, commented,
“Each of our new brands brings innovative cuisines to the market and we are excited to see how our customers respond. We are excited to relaunch in Kuwait after the pandemic lockdown measures prevented us from scaling earlier this year. It’s a great market for delivery where product innovation is valued by the consumer. We plan on re-opening in January with 7 kitchens and on covering over 75% of Kuwait by the end of Q2-2021 with our new brands,”
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