Gokongwei-Backed Online F&B Startup to Enhance Virtual Food Concepts; Raises US$3 Million

Kraver’s Canteen stays relevant with its own online food brands

Teckwai Saw

4 May, 2022

Gokongwei-Backed Online F&B Startup to Enhance Virtual Food Concepts; Raises US$3 Million | BEAMSTART News

Philippines-based cloud kitchen operator, Kraver’s Canteen raised US$3 million in a series A round led by Quest Ventures.

The round was also participated by Foxmont Capital and Oak Drive Ventures.

Key Highlights

  • Kraver’s Canteen is aiming to expand its operations by building 100 kitchens by 2025, having recently opened their 11th kitchen this year.
  • On the other hand, Kraver’s Canteen recently launched its new metaverse concept called Kra-Verse Food Hall, a collection of 6 new brands that showcase the potential of high-quality, delivery experiences.
  • Kra-Verse Food Hall also features an online brand called Krave which has seasonal offers based on current food trends.
  • The global cloud kitchen market hit an estimated US$56.7 billion in value by 2021 and is expected to reach US$112.53 billion by 2027, if it grows at a compound annual growth rate of 11.50% from 2022 to 2027, according to a report from ResearchAndMarkets.

Community Q&A

Background of Kraver's Canteen

  • Kraver’s Canteen was founded by entrepreneurs Eric Thomas Dee, Victor Lim, and Victor Mapua in 2020.
  • Kraver’s Canteen constructs cloud kitchen facilities for delivery-only restaurants.
  • The startup has raised a total of US$4.5 million to date.
  • Notable partners of Kraver's Canteen include Pizza Hut, Dairy Queen, and Tiger Sugar.

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