Dubai’s Nuwa Capital has announced its $1.25 million investment in Foodtech company Bundle Kitchen, the leading multi-brand virtual food brand builder and operator in Turkey and Nuwa Capital’s fourth investment in Turkey from its early-stage fund.
The $1.25 million investment was lead by Nuwa Capital, with participation from Turkish VC fund Kybele Investment. The capital will be used to build the tech architecture and support expansion efforts across the region.
“We are a big country with a big food culture,” commented Kaan Kalipci, Nuwa Capital’s venture partner in Turkey. “Being at the intersection of East and West, our businesses have the opportunity to truly expand regionally and globally. Foodtech is just one of the spaces we are excited about, and we look forward to continue backing founders that align with our thinking.”
Founded in 2020 and headquartered in Istanbul, Bundle Kitchen currently operates from four kitchens, including one hybrid location, the company has successfully created eight virtual food brands, with an additional 15 brands in the pipeline. Spoke kitchens are anchored by key hero brands that drive profitability and are supported by additional brands designed for efficient operations, optimal kitchen utilization, and demand generation during off-peak hours..
“Our brand and customer centric approach sets us apart from the other players in this space,” said Alper Kiresepi, co-founder of Bundle Kitchen. “With our industry-leading kitchen ramp-up periods and dedication to creating globally inspired brands, we are excited to announce our seed round and welcome Nuwa as a supporter of our vision.”
Ghassan Noursi, Venture Lead at Nuwa Capital, said, “Alican, Alper and the founder team are unlocking a massive opportunity as more people become accustomed to the convenience of food delivery. A key advantage that this team has is the unparalleled quality of their meals and their ability to run a solid and profitable business from inception.”
Noursi adds that Bundle Kitchens stands apart from the rest because it is an iteration of cloud kitchens that is different from previous versions as it solved the last mile delivery apart from the kitchen issue. Delivery is not an afterthought in this business. Instead, it is in and of itself, a crucial element of the overall value proposition. Everything about this business is designed around delivery. The food, the menu, the packaging, the online order experience, is all designed to solve typical challenges in the delivery experience.
Bundle Kitchen has already demonstrated profitability and plans to expand across the region, backed by compelling factors that differentiate them from other cloud kitchen competitors. One crucial element of their competitive advantage is their deep understanding of the growing affinity customers in this region have for local, home-grown brands.
