Gokongwei-backed cloud kitchen startup raises US$3m to fight ‘delivery fatigue’

The Business Times

THE Kraver’s Group, a Philippine cloud kitchen operator backed by Lance Gokongwei and Christopher Po, has gotten a funding boost out of Singapore.

The 2-year-old startup has raised US$3 million in Series A funding led by Singapore’s Quest Ventures, an early-stage investor that has also backed Indonesian cloud kitchen operator Yummy Corp.

The startup also previously bagged US$1.5 million in pre-Series A funding. Investors included Foodee and several corporate titans – Gokongwei, who is chairman at Robinsons Group and chief executive of Philippine conglomerate JG Summit; Po, chairman of canned food giant Century Pacific; and George Pua, president of F&B operator Meat Concepts.

Other early investors include Philippine venture builder Kaya Founders; early-stage venture firm Foxmont Capital; Brian Cu, who set up the Philippine units of Grab and Zalora; and Paulo Campos III, who also set up Zalora Philippines.

Both Cu and Campos, alongside Gokongwei and Po, are on the board of Kraver’s. With the latest round, Jeffrey Seah, partner at Quest Ventures, is also joining the board.

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