Wollef Ventures is a venture capital firm focused on early stage ventures in Latin America.

Wollef Ventures

XFactor Ventures is focused on making pre-seed and seed stage investments in companies with billion dollar market opportunities that have at least one female founder.

XFactor Ventures

The MBA Fund is a VC fund and network of founders, executives and investors committed to mentoring and investing in leading early-stage, student and alumni founders. The firm was founded in 2018 by Josh Hoffman-Senn, Hiro Tien, Sieva Kozinsky and Hansae Catlett.

The MBA Fund

Innogen Capital is a LATAM venture capital firm that invests in early-stage and growth companies. It focuses on proven business models, including companies with a social impact mission, Innogen Capital also seeks to provide its partners with expertise and exposure via a network of professionals in diverse fields.

Innogen Venture Capital

Unpopular Ventures invests early in tech startups before they gain popularity. They focus on unconventional opportunities, believing that innovation often arises outside the mainstream. They support teams exploring new markets, unique ideas, and challenging endeavors. Despite their unconventional approach, their early-stage startups have attracted follow-on funding from top investors. Established in 2019, they now invest from both a syndicate and a rolling fund, with $151 million in assets under management (AUM).

Unpopular Ventures

Flucas Ventures is a venture capital investor.

Flucas Ventures

Andreessen Horowitz is a venture capital firm specializing in investing in seed, start-ups, early, mid-stage, growth, and late-stage. It prefers to invest in the social media business and technology sector with a focus on software, back-end infrastructure, the infrastructure of the Internet, cloud computing, enterprise software and services, consumer, business Internet, mobile-Internet, consumer Internet, cloud computing, data storage, social network browsers data-storage, consumer electronics, networking functions, software related biology, biotech, and medicine companies at the intersection of computer science and life sciences with a focus on digital therapeutics, cloud technology in biology, and computational medicine.

Andreessen Horowitz

Base Partners is a growth equity firm backed by a group of Brazilian business owners. The firm focuses on investing in technology companies. Base Partners was founded in 2016 and is headquartered in Sao Paulo, Brazil.

Base Partners

Vast Ventures they invest in consumer brands, AI and cloud software, and more.

Vast Ventures

Jaguar is an investment vehicle that seeks opportunities in fast-growing companies that can generate a positive impact in the world. Our vision as investors is to support the world's positive entrepreneurs building disruptive solutions. Our mission as company builders a is to build fast-scalable businesses with global presence and exit them in a 2-3 years horizon. Our purpose as Real Estate managers and investors is to develop long-term valuable and sustainable real estate assets that can provide return while they mature. We are sector-agnostics and our principles rely on technology, innovation and impact investing.

Jaguar Path Ventures

We make long-term bets on mission-driven entrepreneurs, individuals who have a creative imagination and a radical vision of how the world should look like. We are highly selective in who we invest in, focusing on a handful of entrepreneurs per year in order to dedicate our full energy and heart to helping them. We like to be artisans. We typically invest in companies that are generating revenues with attractive margins and/or unit economics and capital-efficient business models. We focus on Seed, Series A, and Series B rounds. We are prepared to invest $1.5 million to $5 million in each new investment and expect to continue investing in our portfolio companies in successive rounds. We are flexible on the mechanics. We can lead or participate. We primarily invest in companies based in Latin America, but we also back businesses led by Latin founders in other places like the US or Europe. We are purpose-driven investors. We seek to invest in companies and exceptional entrepreneurs who are on a mission to solve our biggest social and environmental challenges by developing businesses that are competitive, scalable, and sustainable. We believe people, teams, and culture are the ultimate competitive advantage of a company: attitude over talent.

Kayyak Ventures

At 17Sigma we support disruptive and innovative Latin American entrepreneurs in their early stages to push forward the next generation of regional leaders and companies. Founded to collaborate with teams, backing ideas that have the potential to disrupt the status-quo and build a stronger, better, and fairer future. 17Sigma will primarily focus on embryonic startups looking to raise Pre-seed and Seed rounds. We are firm believers in the potential of Latin America to achieve 17Sigma results, understood as extremely rare and statistically unlikely events. We are here to bet on that magic!

17Sigma

Chimera Capital is a private investment firm that manages a diversified portfolio of listed and unlisted equities on both local and regional markets. The company is involved in a variety of industries, including real estate, construction, fast-moving consumer products, food and beverage, hotels, aviation, healthcare, and general investments. Chimera Capital firmly believes in the potential of MENA asset classes, particularly the GCC.

Chimera Investment

A venture capital firm, backed by a family office, which invests in early stage startups in Brazil and VC funds from around the world.

Grão

Daedalus is a Latam focus, early stage fund that invest in Fintech, SaaS and Marketplace startups. We are looking for extraordinary entrepreneur teams with a global vision and burning passion.

Daedalus Ventures

Foodology

Foodology builds and runs delivery-focused digital restaurant brands. It engages in scaling restaurant brands across Latin America. Its virtual restaurants run through cloud kitchens enabling brands to shorten their iteration cycles and increase their concept offering without incurring significant setup costs. The company operates over 80 kitchens in Colombia, Mexico, Brazil, and Peru.

<div>Foodology is a Colombia-based operator of independent cloud kitchens that creates and operates its own virtual brands. Foodology&rsquo;s model aims to rapidly develop and scale original and third-party restaurant brands in Latin American markets. The company supports this model by using data on geographical preferences and creating original dishes to cater to geographies.&nbsp;</div>

Defining the future of the restaurant business.

Cloud Kitchens

Colombian startup Foodology raises a $17M round

<div>
 
 Foodology is a Colombia-based operator of independent cloud kitchens that creates and operates its own virtual brands. Foodology&rsquo;s model aims to rapidly develop and scale original and third-party restaurant brands in Latin American markets. The company supports this model by using data on geographical preferences and creating original dishes to cater to geographies.&nbsp;
 
 
 As of 2022 September, the company operated 83 kitchen facilities in over 20 cities in Colombia, Mexico, Peru, and Brazil, with plans to operate 100 kitchens by the end of the year. It operates eight virtual brands including Brunch &amp; Munch, Avocalia, The Crunch, La Cuadra, Wings in Da House, Bamboo Wok, Burritos &amp; Co., and Cacerola. The company delivers over 200,000 orders per month.
 
 
 In July 2023, 
 Foodology
 raised USD 17 million in a funding round with participation from existing investors such as Andreessen Horowitz and Chimera as well as new investors such as 30N Ventures. The company plans to use the funding to improve its market position in Brazil. 
 
</div>

<div>
 
 Sweetheart Kitchen is a Dubai-based independent cloud kitchen that owns and operates its own brands. As of February 2022, the company offered 21 cuisine-specific, quick-service food brands across the UAE and Kuwait.
 
 
 The company does not partner with third-party restaurants looking to outsource their delivery volumes but has linked up with third-party aggregators in the region such as Talabat, Zomato, and Carriage for delivery. 
 
 
 In February 2021, the company launched a loyalty program to provide customers with immediate ‘data-based’ rewards with a view to incentivizing specific behaviors such as increasing Average Order Value and frequency of purchase.
 
 
 In October 2020, the company raised USD 17.7 million in a Series C funding round led by Sweetheart Kitchen CEO Peter Schatzberg, with plans to dedicate the funds to launching additional brands and expansion in the UAE, Kuwait and Saudi Arabia. To date, the company has received total funding of USD 42.2 million. The company has not revealed any plans to expand to the US or European markets.
 
</div>

Sweetheart Kitchen

<div>
 
 REEF Technology (formerly known as ParkJockey Global) is an operator of parking real estate and delivery kitchens in North America. The company transforms urban spaces into community hubs by setting up cloud kitchens, healthcare clinics, retail outlets, and other services in empty parking spaces.&nbsp;
 
 
 REEF kitchens is the company&rsquo;s turnkey expansion solution for restaurateurs. These are purpose-built commercial kitchens that prepare food ordered online for delivery and pick-up. Each kitchen prepares food for three to five restaurant brands, and REEF manages all operational requirements on behalf of restaurant owners including staffing and day-to-day kitchen management. REEF kitchens are connected to the neighborhood&rsquo;s most popular food delivery platforms and getREEF (the company&rsquo;s own delivery platform) via a proprietary delivery management technology. This enables each kitchen to organize and prepare orders for multiple brands. The kitchens operate under a license model as opposed to a flat fee.&nbsp;
 
 
 The company&rsquo;s brand portfolio includes food brands like Wow Bao, Wayback Burgers, Firenza, Saladworks, and Capriottis and is supplied by Collectiv Food and Crate to Plate. For delivery, the company has partnered with Grubhub, Deliveroo, Postmates, and UberEats.
 
 
 There were over 300 REEF kitchens across key markets in North America and Europe, including cities like Austin, Miami, Chicago, Houston, Portland, Toronto, Edmonton, and London. However, in January 2022, the company temporarily shut down a third of its locations (around 95 sites) due to underperformance and a number of operational challenges including labor shortages, high costs, incomplete permits, and difficulties connecting to utilities. In March 2023, Reef announced plans to discontinue operations of its unprofitable ghost kitchen facilities in a strategic move that focuses on profitability. The company instead planned to increase its focus on licensing its technology to venues such as airports and stadiums.&nbsp;
 
 
 Key customers and partnerships
 
 
 In December 2021, REEF acquired 2ndKitchen, a US-based virtual kitchen for hotels, offices, buildings, and other hospitality companies. 2ndKitchen&rsquo;s existing business will be combined with REEF's brand and will operate under its hospitality division. In November 2021, the company announced the acquisition of iKcon Restaurant LLC, a Dubai-based cloud kitchen operator, marking its first major transaction in the MENA market.&nbsp;
 
 
 REEF also strengthens its reach and customer base through partnerships with other players in the broader cloud kitchen ecosystem including Creating Culinary Communities (C3) and JustKitchen. REEF currently carries C3 brands in its cloud kitchens, and has a partnership with JustKitchen to launch its &ldquo;Another Wing&rdquo; brand in South-East Asia. In July 2022 Reef partnered with HUBB Kitchens, a North Carolina-based cloud kitchen facility provider to open a virtual food hall in the Raleigh-Durham International Airport in North Carolina.&nbsp;
 
 
 In March 2022, the company announced a partnership with the fast-casual Mexican restaurant QDOBA to launch 25 pilot locations in Seattle, Austin, and Atlanta. In August 2021, the company partnered with the American fast food chain Wendy&rsquo;s to open 700 delivery Kitchens across the US, Canada, and the UK by 2025. In May 2023, the two companies announced plans to close down all Wendy&rsquo;s cloud kitchen locations in the US. In March 2022, the company launched its first fine-dining collaboration with The One Group for its upscale concepts STK, Kona Grill and Bao Yum.
 
</div>

REEF Technology

Combo Kitchen is a Miami-based cloud kitchen partner that connects restaurant brands to franchisees, enabling food entrepreneurs to select and prepare established delivery-only food brands. Combo Kitchen was founded by Hossein Kasmai, the CEO and founder of Franchise Creator Inc., a Miami-based franchise consulting firm.Restaurant owners are invited to join the Combo Kitchen network of concepts, with the intention of expanding their footprint in new markets, growing brand awareness, and increasing foot traffic to key locations. As of February 2022, Combo Kitchen’s network included 28 restaurant brands, including Saladworks, Memphis Wings, Ramen Lab, and Poke Sushi Bowl. With restaurant partners, Combo Kitchen acts as a support team, freeing restaurateurs to only focus on training franchisees in menu preparation.For franchisees (often independent restaurants, bakeries, and cafes with their own kitchen spaces), Combo Kitchen provides support with location scouting, kitchen design and construction, advertising, and POS integrations. By incorporating multiple brands, franchisees are able to grow revenues while leveraging the same kitchen infrastructure. In turn, franchisees submit a one-time entrance fee to join the Combo Kitchen network and pay royalties to Combo Kitchen and the owners of the concepts in exchange for the rights to operate multiple brands in one kitchen.The company has partnered with major third-party food delivery providers such as UberEats, GrubHub, and DoorDash.

Combo Kitchen

Crave Hospitality Group is an independent cloud kitchen operator that provides delivery-only restaurant brands. The company’s virtual brands include The Flying Rooster, Madre's Flatbread, Big Reds Burgers &amp; Grill, Brownstone Pizza, The Red Crane, and The Twisted Cactus.The company was initially known for its food delivery company (“Crave Delivery”) before it decided to change its business model by launching into cloud kitchens (“Crave Collective”) in November 2020. As of September 2023, the company operates 4 kitchen locations.The company’s business is powered by its own proprietary software (“Crave Technology”) for multi-brand management, restaurant point-of-sale, kiosk and mobile ordering as well as operational support, driver logistics, and analytics. Crave Technology can also be licensed by national and regional restaurant groups looking for an opportunity to scale.Unlike other cloud operations, Crave does not partner with third-party delivery companies and instead employs its own staff to undertake delivery. The company also employs a large crew of mobile servers to engage with customers during pick-up, as well as customer service reps who answer phone calls. Crave conducts regular surveys on menu preferences and pricing, adjusting recipes and approaches in line with customer insights.In July 2021, the company estimated that its Boise location was generating USD 500,000 in monthly revenues.Since 2019, the company has received 4 rounds of funding amounting to USD 16.5 million. The latest round was in July 2021 when the company raised USD 3.3 million in seed funding. Prior to that, in March 2021, the company raised USD 4.9 million in a seed round led by early-stage investment fund StageDotO Ventures. Crave has leveraged these infusions for the expansion of its cloud kitchen operations and its licensing initiative for Crave Technology.

Crave Hospitality Group

Kitchen Republic is an Amsterdam-based cloud kitchen provider that offers food and drink entrepreneurs dedicated production spaces and access to high-quality equipment, alongside dedicated refrigeration and storage space. As of February 2022, there were 90 unique food brands listed as Kitchen Republic members, including Sauer Crowd, Vagabond, The Food Ninja, and Cultcha Kombucha.Compared to other cloud kitchen platforms, Kitchen Republic does not have a central location with easy access to large urban populations. This has effectively prevented partnerships with third-party delivery platforms like UberEats and Deliveroo. Instead, the company’s location in Amsterdam West is more suited to restaurateurs with their own delivery platform.

Kitchen Republic

Kitchen infrastructure companies that provide purpose-built commercial kitchens as a turnkey expansion solution and also manage end-to-end operations on behalf of restaurateurs and food entrepreneurs (e.g. recipe-based food preparation, staffing and day-to-day kitchen management).

Players in this segment focus on creating virtual restaurant concepts or digital food brands, usually chef-created or celebrity-inspired, for licensing or franchising by third-party kitchens. These companies do not usually have their own kitchen facilities but partner with restaurant franchisees that prepare the meals using underutilized space in their existing kitchens.

Players in this segment are companies that wholly own and prepare several delivery-only food brands. Meals are either prepared in an independently-owned kitchen facility or through underutilized third-party kitchens using the cloud kitchen’s own staff. These food brands are not available for licensing or franchising by third-party kitchens.

Kitchen infrastructure companies that offer restaurateurs and food entrepreneurs purpose-built commercial kitchens (both private and shared spaces) as a turnkey expansion solution.

Some companies provide B2B SaaS solutions for restaurants to manage their cloud kitchen orders

Foodology

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