Kitchen United's $40M Infusion
Kitchen United, the kitchen as a service company built to serve the fast growing world of off-premise dining, has closed on its $40 million Series B funding round.
Kitchen United will be entering the New York City market, with kitchen centers opening in RXR Realty and other properties in the tristate area. The company continues to seek out attractive properties in its primary growth markets, which include New York City, Chicago, Los Angeles, San Francisco and Boston.
The round was co-led by RXR Realty – one of New York City’s largest real estate owners, investors, operators and developers – and GV, with participation by certain funds managed by Fidelity Investments Canada ULC, DivcoWest and G Squared. Existing investors and founders John Miller, Harry Tsao and others also participated in the round.
Launched in 2017, Kitchen United offers innovative restaurant chains a value-driven, low-risk opportunity to grow their business without the high cost of building out a standalone restaurant. According to William Blair, U.S. off-premise restaurant sales in 2018 were $279B, with an expectation for that number to grow to $402B in 2022. Kitchen United’s commercial kitchen centers each house 10 to 15 restaurant brands, allowing the restaurant to focus on the food, while Kitchen United takes care of the rest. With locations open in Pasadena and Chicago, Kitchen United will soon open in Scottsdale and Austin, with additional sites under construction in Chicago, San Francisco, Los Angeles and other major markets.