Ghost-kitchen provider Zuul to expand in New York with $9M in funding
Financing to help Zuul expand to all boroughs as food delivery grows
Zuul, a ghost-kitchen provider based in New York, raised $9M to fund its expansion throughout the city. Through Zuul’s kitchens, foodservice brands can expand their market share in a cost-effective way, said the company. The tech venture already has a location at 30 Vandam Street, New York, N.Y., partnering with brands that serve customers in Manhattan.
The capital will be used to expand throughout the five boroughs of New York. “By raising this additional capital, Zuul can continue to play a central role in the restaurant industry’s accelerating shift toward delivery while addressing the challenges this shift presents,” said Corey Manicone, co-founder and chief executive of Zuul.
Ghost kitchens have become a popular method of restaurant chain expansion in new markets, eliminating the significant investment in real estate that typically comes with it. Zuul says its delivery-only kitchens are plug-and-play and include its proprietary digital marketplace to propel demand for its clients, which are mainly restaurants.
“Zuul’s physical and digital infrastructure provides the differentiated value layer in the tech-enabled food delivery evolution,” said Sean Fitzgibbons, co-founder and CBO of Zuul.
In New York, Zuul will compete head-to-head with Kitchen United. In the hotel space, Butler Hospitality recently took in $15M in a series A round to further its growth in the city and expand to Chicago, Miami and Washington, DC. Through C3, sbe, a hospitality management firm, Accor and Simon Properties are leveraging real estate in major markets, including New York, to expand virtual restaurant concepts and operate virtual food halls.
Photo credit: Jonathan Borba (featured preview image)
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