Twin entrepreneurs raise £108,855 for their online marketplace for kitchen space
Backed by 112 investors on equity crowdfunding platform Seedrs, London-based Kitchup matches underused commercial kitchens with food businesses
Twin entrepreneurs have raised £108,855 for their online marketplace for kitchen space, Kitchup.
Exceeding their original £100,000 target, Charlie and Emma Jones were backed by 112 investors on equity crowdfunding platform Seedrs, in exchange for a 10.79% stake in their start-up.
Based in London, Kitchup matches underused commercial kitchens with food businesses.
An offering it describes as “driving an Airbnb-style revolution in London kitchen space”.
Founded in October 2015 by the brother and sister team, Kitchup claims to have built up the largest listing of commercial kitchen spaces in the capital.
And has aided a diverse mix of food businesses with projects ranging from helping artisans expand their production, to supporting street-food traders transition into their first restaurants, to facilitating locations for chefs to teach cookery classes.
The start-up says its long-term mission is to build a sustainable global network of kitchen spaces to encourage a more collaborative and resourceful food industry that has social, environmental and economic benefits for all involved.
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Commenting on the successful crowdfunding campaign, Emma Jones, co-founder of Kitchup, said:
“We are delighted to have overfunded with over 100 investors who share our vision.
“It’s great validation of the business and we are excited and energised for the future.
“The funds will be used to develop our technology and grow the team so we can support a growing demand for flexible and affordable kitchen space.”
Alan Gross, co-founder of Chef Works, and also an investor in and an advisor to Kitchup, said:
“Food tech is a very important and fast growing sector with huge potential and I’m really excited to be supporting the dynamic Kitchup team as they build a great scalable business and a powerful brand for the future of food.”