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  • 04-07-21

    Dubai-based cloud kitchen Kitopi increases USD415M

    (MENAFN)Dubai-based cloud kitchen Kitopi increased USD415 million from a group of investors including SoftBank Group Corp.’s Vision Fund 2, rising its rate to more than USD1 billion.

    During an interview with Bloomberg, CEO Mohamad Ballout declared that Kitopi “has crossed the billion dollar valuation mark now.”

    Ballout also declared that other investors that united SoftBank include Chimera, Turkey’s Dogus Group, California-based Next Play Capital, DisruptAD, Nordstar and B Riley.

    The official added that Kitopi will make Saudi Arabia its Middle East headquarters while Dubai will remain a global head office as it looks to expand into Southeast Asia.

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