CloudKitchens, a food delivery startup, which is owned by Travis Kalanick, the co-founder of Uber, has bagged $400 million (approx INR 2,851 crore) funding from Saudi Arabia’s sovereign-wealth fund, reported Yourstory.
According to the sources, the funding was completed in January after which the CloudKitchens was valued at $5 billion.
The CloudKitches is a subsidiary of Travis Kalanick’s Los Angeles-based company City Storage Systems.
Besides CloudKitches, Kalanick also owns the food delivery platform Uber Eats.
While, as per the reports, the online food ordering market is estimated to touch around $17.02 billion by 2023.