UAE’s foodtech kaykroo has raised $4 million in a pre-Series A round led by family offices and regional investors.
The Dubai-based company said on Tuesday (Oct 13) it will use the funds to develop its proprietary technology and expand in the GCC.
Kaykroo has been around for ten years and is behind six restaurant concepts that are independently operated: Man’oushe Street, The Good Bowl, Bak Bak Chicken, Wrapped, Fern El Balad, and Hummus Brothers.
The company is introducing four new brands and shifting all ten to cloud kitchens.
This marks the move away from individual dine-in restaurants to a network of 15 delivery and takeaway-centric smart kitchens and brand residences, including kiosks and pop-ups across Dubai, Abu Dhabi, Sharjah, Ras Al Khaimah and Al Ain.
“For many, 2020 has been a year of unprecedented challenges. For us it was the year of reinvention,” said founder and CEO Jihad El-Eit.
Kaykroo restaurants have been receiving “high demand” since the start of the year, with more with more than one million orders fulfilled by its existing brands, El-Eit added.
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