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Kul Bhushan · · 1 min readPhilippine cloud kitchen startup nets $125k from Y Combinator
“MadEats, a cloud kitchen startup based in the Philippines, has secured US$125,000 in funding from the Silicon Valley-based startup accelerator Y Combinator,” e27 reported.
More details
- MadEats is the first cloud kitchen startup to be part of Y Combinator’s accelerator program, according to the report.
- Based in the Philippines, the company said it is also in talks to raise a seven-figure sum (in US dollars) in seed funding.
Dive deeper
- Led by an all-female founders’ team, the startup had raised an undisclosed sum in a pre-seed round led by Justin Mateen, co-founder of dating app Tinder, in November 2020. Luis Sia, co-founder of fintech startup PayMongo, has also invested in MadEats, which has been operating for less than a year.
- Following the fundraise, MadEats plans to launch a new mobile app for home delivery. It also aims to scale up its cloud kitchens across the Philippines in the coming months.
Editing by Collin Furtado and Arpit Nayak
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