Alibaba-backed VC firm joins $5m round of Philippine cloud kitchen firm

CloudEats, a cloud kitchen startup based in the Philippines, has raised US$5 million in a new funding round.

More funding details

• Lead investor: Singapore-based Vulpes Investment Management and Gobi-Core PH fund
• Other investors: Alibaba-backed BAce Capital, Intera Investments, GMA Ventures, and other angel investors
• Stage: Series A

More company updates

• CloudEats will use the fresh funds to scale its proprietary smart kitchen tech, open new markets across Southeast Asia, and develop new brands like Burger Beast.
• BAce Capital founding partner Benny Chen, who led Ant Financial’s investment in Zomato and Paytm and has served on the boards of both companies, will join CloudEats’ board of directors.
• The firm is looking to begin operations in Vietnam this month and plans to further expand in the Philippines.
• CloudEats has also established an international advisory board consisting of the current and former CEOs of Monde Nissin, McDonald’s, and Starbucks in Europe.
• The company develops cloud kitchens in non-retail and cost-efficient spaces, with operations and layouts specifically designed for food delivery.

For more coverage about the company, head here. You can also click on the link below to view the company’s key details and funding history.