Behind the decision – investing in Bundle Kitchen
Earlier this year, we led the seed round of Istanbul-based virtual food brand creator and operator Bundle Kitchen.
The Bundle Kitchen team is pioneering a new breed of restaurants that can operate at improved margins, capitalize and respond fast to food trends, and ultimately, scale quicker than a typical brick and mortar restaurant.
These are some of the reasons that set Bundle Kitchens apart and contributed to our decision to lead this round:
- This is an iteration of cloud kitchens that is different from previous versions. The customer is truly king here. Given the team’s background, Bundle Kitchen’s vision was for their brands to represent the nec plus ultra of virtual brands since inception. The quality is undeniable.
- Models that have emerged over the past few years have solved for many initial kitchen operator challenges. Some solved for kitchen space, others enabled the restaurant to expand. Rarely did a model come out of this region that solved for the last mile of something more and more people have become accustomed to. Delivery is not an afterthought in this business. Instead, it is in and of itself, a crucial element of the overall value proposition. Everything about this business is designed around delivery. The food, the menu, the packaging, the online order experience, is all designed to solve typical challenges in the delivery experience.
- Despite its nascency, Bundle Kitchen has already demonstrated profitability, leaning on the management team's extensive experience in running large food brands, real estate, investments and supply chain operations. These are all critical activities and essential parts in running a well oiled, well managed food operation.
- From the onset, Bundle Kitchen plans to expand across the region, backed by compelling factors that differentiate them from other cloud kitchen competitors. One crucial element of their competitive advantage is their deep understanding of the growing affinity customers in this region have for local, home-grown brands. Over the last five years, we have seen a rise in restaurants and brands built by chefs and food enthusiasts from, and for, the region. Bundle Kitchen has cracked the economics of this model by bridging the gap between big chain systems and independent brands, offering uniformity in food production, customer centricity, menu adaptability, and tech integration.
Alican and Alper’s unwavering commitment to high-quality food sets them apart from the competition and ensures that while they scale, the focus remains on continuing to enable customers enjoy an exceptional culinary experience. We believe that Bundle Kitchen will redefine the role of technology in the cloud kitchen model, and by doing so, help transform the foodtech landscape in the MENA region.
