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.
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.
