FaveKitchens
About this raise
FaveKitchens, with a valuation of $18 million, is raising funds on StartEngine. It is a distributed restaurant platform helping local restaurants scale. The company provides cloud kitchens, technology, business operations, and delivery logistics to independent restaurants and empowers them to operate in a co-op model. FaveKitchens is working on a pandemic-proof business model to hybridize local restaurants and delivery services. Praveen Akula founded FaveKitchens in May 2019. The current crowdfunding campaign has a minimum target of $9,999 and a maximum target of $1,069,998.04. The campaign proceeds will be used to enter into strategic partnerships and grow.
Investment Overview
Invested : $47,236
Deal Terms
Total Commitments
- Platform
- StartEngine
- Start Date
- 03/01/2022
- Close Date
- 04/30/2022
$9,999
$1,069,998
$499
Equity - Common
Early Stage
RegCF
$2.02
$17,988,100
Company & Team
Company
- Year Founded
- 2019
- Industry
- Food, Beverage, & Restaurants
- Tech Sector
- Distribution Model
- B2B
- Margin
- Medium
- Capital Intensity
- Low
Financials
- Revenue +354% YoY
- $278,543
- Monthly Burn
- $12,660
-
Runway
- 18.2 months
- Gross Margin
- 89%
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Funding history
| Close Date | Platform | Valuation | Total Raised | Security Type | Status | Reg Type |
|---|---|---|---|---|---|---|
| 04/30/2022 | StartEngine | $17,988,100 | $47,236 | Equity - Common | Funded | RegCF |