India’s cloud kitchens on cloud nine

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Cloud kitchens gained popularity during the Covid-19 pandemic, especially in Singapore. It was an understandable trend, given that ordering food online was among the few joys many people had at the time.

But now that the pandemic is in the rearview mirror, cloud kitchens have lost their spark. Deliveroo, Grab, and Foodpanda – all major players in the food delivery space – have even closed their own outlets.

In India, however, it’s a rather different story. In fact, this week’s top deal involves a cloud kitchen chain from the country. Read on to learn more about it.

You can find all other important investment deals that happened in the last few days in our weekly funding news wrap-up.

Let’s dive into the biggest deals and M&As that recently took place.

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The biggest deals by country

🇮🇳 Rebel Foods is an Indian startup that runs cloud kitchens. It has secured US$25 million from Qatar Investment Authority.

🇨🇳 Leinao, an AI company based in China, has raised US$13.7 million in series B money from China Mobile.

🇦🇪 Resolv Labs is a fintech startup headquartered in the United Arab Emirates. It has scored US$10 million in seed money from investors including Animoca Brands, Arrington XRP Capital, and Coinbase Ventures.

🇦🇺 WeMoney, an Australian financial wellness platform, has closed a US$12 million series A round. Participating investors were Lance East Office, BetterLabs, Dorado Capital, and Eastcourt Capital.

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M&As

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Startups that are raising funds

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Behind the glasswall

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