Speed Kitchen raises undisclosed amount in funding led by Inflection Point

Inflection Point Ventures (IPV) has so far invested over Rs 550 crore across over 170 deals

Press Trust of India New Delhi

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Cloud kitchen services provider Speed Kitchen has raised an undisclosed amount in seed funding round led by Inflection Point Ventures with participation from high net-worth individuals and angel investors.

The kitchen-as-a-service provider for delivery-focused brands will use the funds for expansion and swell the footprint pan-India.

Inflection Point Ventures (IPV) has so far invested over Rs 550 crore across over 170 deals.

"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-plus locations and cross 200 operational kitchens by the end of FY23-24," Paurav Rastogi, Founder of Speed Kitchen, said.

At a CAGR of 39 per cent, the cloud kitchen industry has been valued at USD 800 million in FY22, which is expected to reach USD 1.9 billion by 2026.

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(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)

First Published: May 18 2023 | 4:23 PM IST

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