Abu Dhabi-based virtual kitchen startup, The Cloud, has secured a remarkable $12 million in fresh funding and finalized the acquisition of UK food-tech startup KBOX. The Series B funding round, marked by the entry of new investor MENA Moonshots, has propelled The Cloud’s total investment to an impressive $22 million.
The ambitious start-up, boasting a presence in seven countries across 91 cities, is poised to leverage this substantial capital injection to supercharge its growth trajectory, expand its global footprint, fortify operational capacities, and enhance its cutting-edge technology platform.
The acquisition of KBOX signifies The Cloud’s strategic thrust into the European market, augmenting its global portfolio by an additional 200 locations. This strategic maneuver cements The Cloud’s position as a formidable player in the virtual kitchen arena, with a keen eye on international expansion and market dominance.
Georges Karam, the Founder and Chairman of The Cloud, expressed enthusiastic anticipation for the future, stating, “With a cumulative $22 million raised to date, we’re not only eyeing new markets but are set on increasing our market share in existing territories. Looking forward, we continue to actively eye more strategic acquisitions while also seeking to raise further capital.”