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Daily Newsletter

26 June 2024

Daily Newsletter

26 June 2024

Local Kitchens raises $40m in Series B funding round

The funding round was led by the company’s existing investor, General Catalyst.

Archana Rani June 26 2024

California-based Local Kitchens has raised $40m in its Series B funding round to expand its takeout-focused food halls to Southern California, US.

The funding round was led by the company’s existing investor General Catalyst, a venture capital firm.

Other existing investors such as Pear VC, Human Capital and Stanley Tang also participated in the latest round, according to techcrunch.com.

General Catalyst managing director Kyle Doherty was quoted by techcrunch.com as saying: “Local Kitchens is accomplishing what other food delivery models have not been capable of — meeting customer experience preferences, driving unparalleled efficiency and creating a solution that delights consumers, chefs and local communities alike.”

Founded in 2020, Local Kitchens collects small and independent restaurants under one roof. It allows customers to select cuisines from different restaurants in a single order.

Local Kitchens currently operates 12 locations in Sacramento and the Bay Area. Each of these units comprises around eight local or regional restaurant chains, covering a variety of cuisines.

Local Kitchens co-founder and CEO Jon Goldsmith was quoted in Restaurant Business Magazine as saying in a blog post that this format helps the brand “preserve the magic of food as a means to bring people together.”

The latest funding round follows a $25m Series A financing raised in 2021. Since then, the brand has grown fourfold.

The multi-brand restaurant chain is planning to offer a growth platform for its partner brands.

These include nclude San Francisco-based Proposition Chicken, which operates two stand-alone locations and nine within Local Kitchens, and Boba Guys, with 17 units featured in all Local Kitchens outlets.

Other partners include The Melt for burgers, Nopalito Taqueria for Mexican cuisine, and Humphrey Slocombe and Milk Bar for desserts.

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