Peckwater Brands, a London-based virtual restaurant brand creator, has raised GBP 15 million (approximately USD 18.1 million) in Series A funding led by Stonegate Group with participation from SoftBank Investments (SBI), Fuel Ventures, and Pembroke VCT. Stonegate has also taken a minority stake in the company—the amount is undisclosed.

This round brings Peckwater Brands’ total funding to GBP 18 million (approximately USD 21.9 million) and values the company at GBP 65 million (approximately USD 79.2 million).

The funds will be used to expand operations by expanding in the UK to become the largest kitchen network (from current 150+ sites); expanding its presence in other European countries like France and Belgium; and further developing the company’s US division, which was reportedly launched in Miami earlier this year. The funds will also be used to develop Peckwater Brands’ technology to offer machine learning-generated menus and to achieve performance improvements.

Peckwater Brand’s Co-founder Sam Martin will become the CEO, while Co-founder Leo Bradshaw will take up the position of executive chair, as a part of this investment.