CloudEats to continue SEA expansions with new investment capital

By Tuong Thuy
Fri, September 23, 2022 | 4:48 pm GTM+7

CloudEats, a pioneering cloud kitchen company with a presence in Vietnam and the Philippines, has raised a $7 million Series A extension led by Nordstar Capital to reach more Southeast Asian markets.

A cloud kitchen, or a virtual restaurant, is a business providing restaurant owners and food enterprises with commercial kitchen space at a lower cost for food delivery and takeout. By not having a full-service restaurant premises with a storefront and dining room, virtual restaurants can economize by occupying cheaper real estate. This trend is accelerating in the restaurant industry.

After its successful launch in Vietnam earlier this year, CloudEats, the Manila-headquartered startup plans to further expand to other Southeast Asian markets like Indonesia, Malaysia, and Thailand by next year, according to its CEO Kimberly Yao.

She told todaybusinessupdates.com that the latest funding will also enable her company to develop its brands, grow its team and double-invest in shared kitchen technology.

“The tremendous growth of our business in Vietnam over the past two quarters is very encouraging. We’ll be taking the best practices along with the key lessons to our next market launch,” Yao was quoted as saying.

CloudEats CEO Kimberly Yao (front, in black) poses for a group photo with her Vietnam staff members in HCMC, southern Vietnam.

CloudEats CEO Kimberly Yao (front, in black) poses for a group photo with her Vietnam staff members in HCMC, southern Vietnam.

According to Yao, the company’s sales volume has quadrupled since April this year compared to October last year.

CloudEats already has more than 30 brands in the Philippines and more than 20 in Vietnam, including Burger Beast, 24/7 Eat, Sulit Chicken, Pia’s Kitchen, and Healthy Appetite.

“Today, we own and operate more than 50 online-optimized restaurant brands that we create and operate exclusively in the Philippines and Vietnam,” the site quoted Yao. “Our patented smart kitchen technology integrated with food delivery platforms allows us to quickly scale and grow the business.”

Together with the previous $5 million round, the latest proceeds bring CloudEats’ total funding to $14 million.

According to Ho Chi Minh City’s tax office, the CloudEats Vietnam Ltd. Co. office opened in November 2021, located in District 1, the core of the city’s central business district (CBD). A corporate self-introduction says Vietnam’s market serves as a foundation for CloudEats to reach other regional markets. This introduction adds CloudEats Vietnam is recruiting employees for several posts like cooks, assistant cooks, warehouse workers, and cashiers.

Comments (0)
  • Read More
HCMC office market maintains momentum, awaits new supply

HCMC office market maintains momentum, awaits new supply

Ho Chi Minh City’s office market has recorded robust leasing transactions across all sub-markets this third quarter, thus keeping healthy performance, property services firm Knight Frank said Monday.

Real Estate - Mon, September 26, 2022 | 4:53 pm GTM+7

Solar power plants in southern Vietnam fined for unauthorized operation

Solar power plants in southern Vietnam fined for unauthorized operation

Two solar power plants in Ba Ria-Vung Tau province have been fined VND160 million ($6,700) for operating without official appraisal and acceptance.

Energy - Mon, September 26, 2022 | 4:44 pm GTM+7

FDI disbursement grows 16% in nine months

FDI disbursement grows 16% in nine months

Disbursed foreign investment capital in Vietnam reached $15.4 billion in the year to September 20, up 16.2% year-on-year.

Economy - Mon, September 26, 2022 | 4:27 pm GTM+7

Word Bank urges Vietnam to adopt low-carbon rice to cut emissions

Word Bank urges Vietnam to adopt low-carbon rice to cut emissions

Transitioning to low-carbon rice production offers the highest potential for Vietnam to meet its goal of reducing methane emissions by 30% by 2030 while boosting the competitiveness of this significant export item, a new World Bank study says.

Economy - Mon, September 26, 2022 | 4:08 pm GTM+7

Australia's Corio seeks larger offshore wind energy opportunities in Vietnam

Australia's Corio seeks larger offshore wind energy opportunities in Vietnam

Corio Generation, an offshore wind energy branch of Australia’s Macquarie's Green Investment Group, wants to make larger inroads into Vietnam via cooperation with Petrovietnam.

Energy - Mon, September 26, 2022 | 3:04 pm GTM+7

Dollar up again after slight drop

Dollar up again after slight drop

The U.S. dollar at commercial banks has risen against the Vietnamese dong after a slight decrease late last week.

Banking - Mon, September 26, 2022 | 11:05 am GTM+7

Vietnam solar energy costs 'lowest' in Southeast Asia

Vietnam solar energy costs 'lowest' in Southeast Asia

Vietnam has the lowest “levelized” cost of solar energy in Southeast Asia, the International Renewable Energy Agency (IRENA) says in its latest major energy-transition publication.

Energy - Mon, September 26, 2022 | 9:58 am GTM+7

Three military airports may include civilian operations: Deputy PM

Three military airports may include civilian operations: Deputy PM

The government is considering turning three military airports in Ninh Thuan, Dong Nai and Hanoi into military-civil airports.

Infrastructure - Sun, September 25, 2022 | 8:42 pm GTM+7

Heineken opens Southeast Asia’s biggest brewery in southern Vietnam

Heineken opens Southeast Asia’s biggest brewery in southern Vietnam

Heineken Vietnam inaugurated an expanded brewery in Ba Ria-Vung Tau province Saturday, saying it was the the biggest in Southeast Asia and used 100% renewable energy.

Industries - Sun, September 25, 2022 | 8:12 pm GTM+7

Agriculture major Hoang Anh Gia Lai suspends $72 mln share issuance

Agriculture major Hoang Anh Gia Lai suspends $72 mln share issuance

Hoang Anh Gia Lai JSC (HAGL) has suspended registration documents for a private placement of shares worth VND1,700 billion ($71.7 million) that it had submitted to the State Securities Commission.

Companies - Sun, September 25, 2022 | 5:42 pm GTM+7

Three Vietnamese carriers among world's top 100 airlines

Three Vietnamese carriers among world's top 100 airlines

Vietnam Airlines, Bamboo Airways and Vietjet Air have been honored with titles in different categories by UK-based air transport rating organization Skytrax.

Travel - Sun, September 25, 2022 | 3:53 pm GTM+7

Northern, central provinces prepare for supertyphoon Noru arrival

Northern, central provinces prepare for supertyphoon Noru arrival

Northern and central provinces have been told to prepare for supertyphoon Noru, which is heading in a northwest direction with wind speeds of up to 183 km per hour.

Society - Sun, September 25, 2022 | 3:35 pm GTM+7

Expensive HCMC apartments in large supply

Expensive HCMC apartments in large supply

More and more luxury and high-end apartment projects have appeared in Ho Chi Minh City, Vietnam’s southern economic hub, with prices exceeding VND200 million ($8,400) per square meter in some cases.

Real Estate - Sun, September 25, 2022 | 10:12 am GTM+7

HCMC anti-smuggling cop in the dock for smuggling

HCMC anti-smuggling cop in the dock for smuggling

Hoang Duy Tien faces prosecution for overseeing the smuggling of goods worth VND211 billion ($8.9 million) when he was an officer with the HCMC economic police division.

Society - Sun, September 25, 2022 | 8:34 am GTM+7

Long Thanh Airport police station opens on construction site

Long Thanh Airport police station opens on construction site

A police station has been set up at the Long Thanh International Airport construction site in Dong Nai province to ensure security and traffic safety.

Society - Sun, September 25, 2022 | 8:18 am GTM+7

Work begins on HCMC Ring Road 3 section

Work begins on HCMC Ring Road 3 section

Construction began Saturday on an 8.7-kilometer section of Ho Chi Minh City's Ring Road 3 that is set for completion in three years.

Infrastructure - Sat, September 24, 2022 | 9:07 pm GTM+7