US culinary on-demand start-up, Kitchen United has secured a $40m Series B funding round co-led by companies RXR Realty and GV.
Other investors who participated in the round include certain funds managed by Fidelity Investments Canada, DivcoWest and G Squared along with existing investors and founders John Miller, Harry Tsao, and more.
The company will use the investment to expand its presence by opening new kitchen centres in RXR and other properties in New York City.
Additionally, the company is exploring attractive properties in other primary growth markets such as Chicago, Los Angeles, San Francisco, and Boston.
RXR Realty chairman & CEO Scott Rechler said: “We share Kitchen United’s vision for the future of the restaurant industry and believe the consumer shift toward off-premise dining is already having a huge impact on both residential and commercial real estate.
“We are thrilled to be an early supporter of Kitchen United and look forward to working together to change how New Yorkers live, work, play, and stay.”
Established in 2017, Kitchen United operates locations in Pasadena, California, and River North in Chicago, Illinois, US.
In addition, the company is planning to open additional kitchen centres across Scottsdale, Austin, Chicago, San Francisco, Los Angeles, and other major markets.
Kitchen United CEO Jim Collins said: “In just over two years, we have only scratched the surface on the massive opportunity for brands to serve their guests where they want to be served, which is increasingly outside their traditional four-wall space.
“We’re incredibly appreciative of our investors who understand the opportunity we present as a strategic real estate partner, meeting the needs of the top restaurant brands in the country as they find new ways to serve their loyal customers.”
In February this year, Kitchen United signed lease agreements for the opening of two kitchen centres in Columbus, Ohio, and Atlanta, Georgia.