CloudEats to continue SEA expansions with new investment capital

By Tuong Thuy
Fri, September 23, 2022 | 4:48 pm GMT+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
Malaysia remains 9th largest global exporter of high-tech products

Malaysia remains 9th largest global exporter of high-tech products

Malaysia successfully maintained its position as the ninth-largest exporter of high-tech goods out of 143 countries worldwide in 2023, the highest recognition it has achieved in the past decade, national news agency Bernama reported.

Southeast Asia - Tue, April 29, 2025 | 10:27 pm GMT+7

Insights into Decision 768 amending Vietnam's power development plan VIII

Insights into Decision 768 amending Vietnam's power development plan VIII

Prime Minister Pham Minh Chinh on April 15 issued Decision 768 approving Vietnam's Amended National Power Development Plan VIII for 2021-2030, with vision to 2050. Anh Dang, a senior partner at Vilaf law firm, offers an insight into the principal amendments to PDP VIII.

Consulting - Tue, April 29, 2025 | 4:36 pm GMT+7

From loss to profit: steel maker SMC sees stock rally, avoids delisting risk

From loss to profit: steel maker SMC sees stock rally, avoids delisting risk

Vietnamese steel manufacturer SMC Trading Investment JSC (HoSE: SMC) has seen its stock price soar nearly 60% since early April after the company turned its 2024 loss into profit over bad debt provision reduction.

Companies - Tue, April 29, 2025 | 3:45 pm GMT+7

Dairy giant TH plans $234 mln factory in southern Vietnam

Dairy giant TH plans $234 mln factory in southern Vietnam

A subsidiary of Vietnam’s dairy giant TH true MILK plans to develop a VND6.07 trillion ($234 million) factory in the southern province of Binh Duong.

Companies - Tue, April 29, 2025 | 3:19 pm GMT+7

Int’l organizations lower Indonesia’s 2025 economic growth forecast

Int’l organizations lower Indonesia’s 2025 economic growth forecast

Several international organizations in April revised their economic growth forecasts for Indonesia, reflecting concerns over escalating global trade tensions and domestic fiscal challenges.

Southeast Asia - Tue, April 29, 2025 | 2:30 pm GMT+7

Indonesia eyes more partnership with Vietnam in Halal-certified production, cosmetics

Indonesia eyes more partnership with Vietnam in Halal-certified production, cosmetics

Indonesia, a Muslim-majority country, is eager to share its expertise in Halal standards and looks forward to collaborating with Vietnam in sectors such as food processing, cosmetics, tourism, and Halal financial services, said Agustaviano Sofjan, consul general of Indonesia in Ho Chi Minh City.

Companies - Tue, April 29, 2025 | 1:34 pm GMT+7

MSG producer Vedan Vietnam’s 2024 revenue drops 4% to $166 mln

MSG producer Vedan Vietnam’s 2024 revenue drops 4% to $166 mln

Food seasoning maker Vedan recorded a revenue of $166 million in Vietnam last year, down 4% year-on-year, according to the 2024 performance review of the Taiwan-headquartered firm.

Companies - Tue, April 29, 2025 | 11:45 am GMT+7

Vietnam, Japan firms sign deals to develop innovation cooperation ecosystem

Vietnam, Japan firms sign deals to develop innovation cooperation ecosystem

Businesses from Vietnam and Japan signed numerous MoUs aimed at developing a cooperation ecosystem in innovation and high-tech industries on the sidelines of a forum in Hanoi on Monday.

Economy - Tue, April 29, 2025 | 11:31 am GMT+7

Vietnam’s VPBank targets 35% annual credit growth over next 5 years

Vietnam’s VPBank targets 35% annual credit growth over next 5 years

Vietnam’s leading private lender VPBank expects to post annual credit growth of 35% over the next five years after taking over weaker lender GPBank, said VPBank chairman Ngo Chi Dung.

Banking - Tue, April 29, 2025 | 8:17 am GMT+7

Japan seeks to implement 15 energy projects worth over $20 bln in Vietnam

Japan seeks to implement 15 energy projects worth over $20 bln in Vietnam

Japan wants to execute 15 projects worth over $20 billion in Vietnam's energy transition field, said Prime Minister Ishiba Shigeru.

Economy - Mon, April 28, 2025 | 11:07 pm GMT+7

Malaysia highlights roles of ASEAN, BRICS in regional cooperation

Malaysia highlights roles of ASEAN, BRICS in regional cooperation

Malaysian Foreign Minister Mohamad Hasan is scheduled to deliver a speech at a dedicated session themed “The Role of the Global South in Reinforcing Multilateralism,” held as part of the BRICS Ministers of Foreign Affairs Meeting in Rio de Janeiro, Brazil, from April 28-29.

Southeast Asia - Mon, April 28, 2025 | 10:10 pm GMT+7

Singapore negotiates for US concessions on pharmaceuticals, chips

Singapore negotiates for US concessions on pharmaceuticals, chips

Singapore is negotiating concessions for pharmaceutical exports to the U.S. while ensuring it still has access to high-end AI chips from the American market, said Singaporean Trade and Deputy Prime Minister Gan Kim Yong.

Southeast Asia - Mon, April 28, 2025 | 10:03 pm GMT+7

Vietnam’s leading IP builder Idico applies for major bourse listing, targets $100 mln pre-tax profit

Vietnam’s leading IP builder Idico applies for major bourse listing, targets $100 mln pre-tax profit

Idico Corporation, a major industrial park developer in Vietnam, has applied for listing its shares on the Ho Chi Minh Stock Exchange (HoSE) and kept its 2025 business plan unchanged with a pre-tax profit target of VND2.6 trillion ($100 million).

Companies - Mon, April 28, 2025 | 9:53 pm GMT+7

Property giant Sun Group commences work on $1.35 bln spiritual tourism complex in central Vietnam

Property giant Sun Group commences work on $1.35 bln spiritual tourism complex in central Vietnam

Sun Group, Vietnam's leading real estate developer, on Saturday broke ground on its Am Tien spiritual and historical tourism complex project in the central province of Thanh Hoa.

Real Estate - Mon, April 28, 2025 | 9:30 pm GMT+7

Vietnam's SHB bank records 'fastest growth in customer satisfaction' for 2 straight years

Vietnam's SHB bank records 'fastest growth in customer satisfaction' for 2 straight years

In the Bank Satisfaction Rankings 2025, Saigon-Hanoi Bank (SHB) not only makes it to the top 10 but also stands out as the bank with fastest growth in customer satisfaction for two consecutive years.

Companies - Mon, April 28, 2025 | 4:19 pm GMT+7

India's KCP Limited to inject extra $60 mln into sugar, biomass power plants in south-central Vietnam

India's KCP Limited to inject extra $60 mln into sugar, biomass power plants in south-central Vietnam

Indian-invested KCP Vietnam Industries Limited has proposed raising the capacity of its Son Hoa sugar plant to 15,000 tons of sugarcane per day and deploying the 45 MW second phase of its 75 MW KCP Phu Yen biomass power plant, both in Phu Yen province.

Industries - Mon, April 28, 2025 | 3:35 pm GMT+7