Inflection Point Ventures Leads Funding Round for Speed Kitchen, Amount Undisclosed
- ByStartupStory | May 18, 2023
Speed Kitchen, a provider of cloud kitchen services, has secured an undisclosed sum in a seed funding round. The round was led by Inflection Point Ventures, with participation from high net-worth individuals and angel investors.
The funds raised by Speed Kitchen, a kitchen-as-a-service provider catering to delivery-focused brands, will be utilized for expanding its operations and establishing a broader presence across 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.
The cloud kitchen industry, witnessing a Compound Annual Growth Rate (CAGR) of 39 percent, has been assessed at USD 800 million in FY22. It is projected to reach a valuation of USD 1.9 billion by 2026.
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