C3 by sbe raises $10M in strategic investment from Lurra Capital
Investment will open doors globally and fuel expansion with existing C3 partners
Digital restaurant ecosystem C3 (Creating Culinary Communities) by sbe raised additional funding through a $10M infusion by Lurra Capital AG. The funding will provide for further expansion of C3’s infrastructure as it works toward operating more than 250 digital kitchens and 40 restaurant brands.
C3’s portfolio of virtual restaurants include Umami Burger, Sam’s Crispy Chicken, Kumi, Krispy Rice inspired by chef Katsuya Uechi, Cicci di Carne by globally renowned butcher Dario Cecchini, El Pollo Verde by chef Dani Garcia, Sa’Moto with chef Masaharu Morimoto, In a Bun, and Plant Nation. It operates a network of food halls, virtual and brick-and-mortar restaurants, digital food halls, and the GO by Citizens food-ordering app.
Switzerland-based Lurra Capital operates as an invitation-only private cap investment firm, with $5B under management from UHNW investors and leading family offices, focused on real estate and venture capital. Lurra Founder and Chief Executive Officer Tyron Birkmeir led the investment round, which was constructed as a strategic relationship, providing C3 access to Lurra Capital’s global investors and partners.
“International expansion is one of our top priorities at C3,” says Sam Nazarian, C3 and sbe founder and chief executive. “Partnering with private capital leaders like Lurra Capital opens up many avenues for us to continue expansions in markets we’d like to be more prominent in. The power of the network will bring C3 to new horizons, and we couldn’t be more excited about what is to come.”
Specifically, through the funding and relationship with Lurra Capital, C3 will benefit by being able to continue to develop restaurants and brands across its network. Plus, the digital restaurant ecosystem will grow in additional markets, leveraging C3’s existing partnerships, including Chowly in the US, Kitop in the UAE, and the 50/50 $100M joint venture with House W.K. Holdings to expand C3’s brands in Saudi Arabia.
“Lurra believes in the evolution of ghost kitchens and strategic partnerships with gamers and content creators. C3 has its finger on the pulse of Gen Z consumers who are impacting the industry and consumer trends of today.” says Birkmeir. “We are excited to be part of the C3 journey as it expands globally and we look forward to working with C3 as well as its brand partners to continue global expansion.”
The infusion by Lurra Capital follows $80M raised in a series B funding round, led by Brookfield Asset Management Inc. and REEF Technology, with participation from Egon Durban and Greg Mondre, managing partners and co-CEOs of Silver Lake Partners. Included in the series B round was a $10M investment by TGI Fridays owner TriArtisan Capital Advisors, announced in August.
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