Startup firm Kitchup, one of the UK’s first online-based marketplaces for kitchen space, has reached the end of its crowdfunding drive having exceeded its target investment.
The London-based outfit surpassed its £100,000 crowdfunding target to help fund the expansion and development of its technology. The equity campaign on Seedrs, which has now closed, raised a total of £108,855 from 112 investors.
Kitchup, which bills itself as the ‘Airbnb-style revolution in London kitchen space’ matches underused commercial kitchens with foodservice businesses in need of professional facilities. Through the startup’s digital platform, kitchen users can easily find and book affordable and flexible space on-demand, whilst kitchen hosts get a secure and simple way to earn extra income from sharing their commercial kitchens.
The London-based startup was founded by twin entrepreneurs Emma and Charlie Jones in October 2015 and has since built up the largest listing of commercial kitchen spaces in the capital.
Over the last two years the company has also aided foodservice businesses with projects, from helping artisans expand their production and supporting street-food traders transition into their first restaurants, to facilitating locations for chefs to teach cookery classes.
The team’s mission is to build a sustainable global network of kitchen spaces to encourage a more collaborative and resourceful food industry that has social, environmental and economic benefits for all involved.
Kitchup’s co-founder, Emma, said: “We are delighted to have overfunded with over 100 investors who share our vision. It’s great validation of the business and we are excited and energised for the future. The funds will be used to develop our technology and grow the team so we can support a growing demand for flexible and affordable kitchen space.”
Current investors include Alan Gross, co-founder of Chef Works, who is also an advisor to Kitchup. He added: “Food tech is a very important and fast growing sector with huge potential and I’m really excited to be supporting the dynamic Kitchup team as they build a great scalable business and a powerful brand for the future of food.”