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Investor Relations
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FinancialNews
03-07-21
Dubai-based cloud kitchen Kitopi increases USD415M from group of investors
(MENAFN)Dubai-based cloud kitchen Kitopi increased USD415 million from a group of investors including SoftBank Group Corp.’s Vision Fund 2, raising its rate to more than USD1 billion.
During an interview with Bloomberg, CEO Mohamad Ballout stated that Kitopi “has crossed the billion dollar valuation mark now.”
Ballout further declared that other investors that accompanied SoftBank include Chimera, Turkey’s Dogus Group, California-based Next Play Capital, DisruptAD, Nordstar and B Riley.
He added, Kitopi is going to make Saudi Arabia its Middle East headquarters as Dubai will remain a global head office as it looks to increase into Southeast Asia.
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