Technology

Reuters exclusively reports SoftBank tech fund in talks to invest in Dubai cloud kitchen Kitopi

Reuters exclusively reported that SoftBank Group Corp is in talks to invest in Dubai “cloud kitchen” Kitopi’s latest funding round through its second technology fund. Cloud kitchens are facilities built to prepare food specifically for delivery and they have benefited from the shift to online services during the coronavirus crisis. These “dark”, “cloud” or “ghost” kitchens have no physical presence as a restaurant, and offer delivery-only services from a centralized location through a mobile app. Allied Market Research in India has estimated that the global cloud kitchen industry could be worth about $71 billion by 2027 compared with $43 billion in 2019.

Article Tags
Topics of Interest: Technology
Type: Reuters Best
Sectors: EquitiesTechnology
Regions: Middle East
Countries: UAE
Win Types: Exclusivity
Story Types: Exclusive / Scoop
Media Types: Text
Customer Impact: Important Regional Story
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