Cuyna closes a €3M seed round

Cuyna – the first digital native multi-brand restaurant operator focused exclusively on home delivery – announces the raising of 3 million euros in a ‘seed’ round led by Big Sur Ventures Y the strategic agreement with LIFT AM to form part of its real estate platform for virtual kitchens, the first of these characteristics in Spain. An operation that will boost its growth over the coming months with the aim of moving from 6 current kitchens to 23 by mid-2023 and will carry out its business model expansion in Spain and other countries in southern Europe.

Cuyna assumes the complete operation of the restaurant brands with which it works, using their suppliers, following their recipes, preparation and packaging in detail, and connecting with all the delivery platforms so that consumers can enjoy the best food as quickly as possible. food in their homes.

With this investment, Cuyna will also expand the scope of its proprietary software for optimizing its kitchen operations and will continue to add talent to its team, made up of executives from companies such as Deliveroo, Glovo, McDonalds, Tripadvisor, Acerinox, JPMorgan , Great Places to work or Suntory Schweppes, among others.

This round of financing has the support of the most important technology and Foodtech funds in Iberia. Led by Big Sur Ventures (Paack, Trucksters, Lingokids), Clave Capital also participates, through Tech Transfer Agrifood (Heura, Cocuus) and the Portuguese VC fund Shilling (Katoo, Kencko, Coverflex).

Jaime Martínez de Velasco, CEO and co-founder of Cuyna it states: “For us, this milestone is proof that what seemed impossible to us is within our reach if we fight every day with talent, effort and humility. In addition, we know that we are in a plane and that it is our responsibility to fly and turn it into a rocket: in an industry that is still very analog, where the software used in restaurants is still very rudimentary, the opportunity to build a digital native operator is evident. and allows us to offer consistent quality in all our kitchens. We are passionate about being able to offer growth opportunities to brands that were impossible before, bringing the franchise model and a national scale closer to all restaurants, it is no longer just for the big brands.”.

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Cuyna is a very innovative foodtech model that is already demonstrating the value it brings to established brands, facilitating their access to new consumers. This, together with a team that knows the space in depth and an outstanding execution capacity, caught our attention from the moment we met them. With our investment we want to accompany them in the creation of a great company” comments José Miguel Herrero, Managing Partner of Big Sur Ventures.

23 million euros to promote the growth of Cuyna

In this seed round, Cuyna has managed to raise 3 million euros from previous investors, together with the funds Big Sur, Clave Capital and Shilling VC, to which is added the strategic collaboration agreement with LIFT AM to form part of its real estate platform with an investment amount that can reach up to €20 million. The plans approved by Cuyna and its partners also include the opening of new virtual kitchens in other countries in southern Europe in 2023. The commitment of these technology and foodtech funds to Cuyna shows the consolidation of the startup over the last 12 months . Thus, Cuyna has consolidated its business model in the cities where it already operates – Madrid, Valencia, Barcelona and, recently, in Murcia – with more than 20 marks. Among the brands that Cuyna operates are, ‘The circle’by Carlos Maldonado – recognized Michelin star and winner of master chef wingstop (North American chicken wing franchise, with more than 2,500 points of sale) or Costa Coffee (2nd world chain of coffee shops, owned by Coca-Cola); as well as junk burgerthe best hamburger in Spain in 2022.

Cuyna also wants to give small investors the opportunity to participate in this disruptive project, participating in the important benefits that their model brings and that have been identified by the large venture capital funds. For this reason, it will offer a unique opportunity for individuals who wish to join this round, with an equity crowdfunding campaign developed in Crowdcube. Those interested can acquire the percentage they want of the company, investing amounts as small as €12, at the same valuation as the large funds.

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