Singapore’s food delivery startup raises $10M
Cloud kitchens are the next big thing to support restaurants in meeting demands, which have been steadily increasing with food delivery businesses and shifting culture away from home cooking. And Southeast Asia has huge potential in the space.
Grain is one such startup that is dubbed to have adopted a sort of cloud kitchen model—but not quite so. It is a delivery-only service that also offers catering. In essence, it is an online restaurant that makes efficient use of real estate, keeping overheads and overall costs down by not having waiters, managers, or space and equipment dedicated to hosting people. Instead, it has chefs and delivery service.
However, it has been dubbed as a “full stack” model tech company. Founded in Singapore in 2014, the bootstrapped startup has been a profit-making business—an attractive aspect to VCs and investors alike. It raised $1.6 million in Series A in 2016, and has now raised $10 million in Series B, led by Thailand’s Singha Ventures.
Read more about the startup here.