MadEats raises US$1.7M seed for domestic expansion of its cloud kitchens

Filipino cloud kitchen startup MadEats has secured US$1.7 million in seed funding from JAM Fund, Crystal Towers Capital, and Starling Ventures.

The Manila Angel Investors Network and Rebel Fund, a VC fund powered by a network of Y Combinator alumni, also co-invested in the round.

MadEats previously raised funding from Y Combinator and 335 Fund (run by Paymongo Co-Founder Luis Sia).

MadEats is an online delivery-only restaurant group. It builds its own food concepts, takes orders from its virtual storefront, and fulfills deliveries with its own fleet of riders.

Also Read: How Philippine cloud kitchen industry is piggybacking on the country’s unique food culture, shifting customer behaviour

Since starting in November 2020, MadEats has launched six brands — Yang Gang (Korean fried chicken shop), Chow Time (Chinese takeout), Fried Nice (fried rice), Dot Coffee, MadBakes (desserts), and MadMakes (for bulk orders, corporate packages, and packed meals).

It currently has three ghost kitchens in Makati, Quezon City, and Manila. MadEats plans to expand further in Metro Manila.

The expansion also includes plans to enable its kitchens with advanced technologies, an end-to-end ecosystem of apps, services, custom third-party integrations, and MadKitchenOS. So far, the platform features an automated order routing system and analytics.

Also Read: All female-led MadEats ropes in Tinder co-founder as investor to scale its internet food brands in Philippines

“We want MadEats to be the modern-day virtual restaurant, focusing on creating better products and scaling them faster through ghost kitchens, so customers get a better dining experience, wherever they are,” said CEO Mikee Villareal.

In November 2020, MadEats bagged an undisclosed sum in pre-seed investment, led by Tinder co-founder Justin Mateen, with the participation of Luis Sia.

—

The post MadEats raises US$1.7M seed for domestic expansion of its cloud kitchens appeared first on e27.