6 years ago

Saudi PIF Invests $400 Million in CloudKitchens

  • Saudi Arabia's Public Investment Fund (PIF) has invested $400 million in CloudKitchens, a ghost kitchen company founded by former Uber CEO Travis Kalanick

  • The investment values CloudKitchens at $5 billion and is one of the biggest investments Saudi Arabia has made in a single startup

  • CloudKitchens rents out commissary kitchens to restaurants or virtual food brands for delivery-only food production

  • The company has locations in China, India, the UK and US, and also operates its own delivery-only restaurants.

      • ProblemFood & Beverage

      "The rise of food delivery services has created a demand for ghost kitchens that can produce food for delivery only."

      Solution

      "CloudKitchens rents out commissary kitchens to restaurants or virtual food brands for delivery-only food production, with locations in China, India, the UK, and the US."

      Covered on