Karan Tanna led Ghost Kitchens, one of the fastest growing cloud kitchens company in India that has grown to 210 internet restaurants and 18 homegrown brands since it’s inception in May 2019, has entered into a JV with Kludio, Bangladesh.
The JV will currently be for knowledge and infrastructure sharing for both brands for food trends across the Indian sub-continent. Both companies cumulatively plan to deploy about US$ 6 million in their respective businesses.
The two brands are looking at the JV in the aspects of licensing respective brands to each other’s countries, technology sharing and development with a focus on deep analytics, which will be co-developed and shared by both companies. Both the companies will license its existing brands to the other company for growing the respective brands in new countries in their existing infrastructure. This will help companies to expand their brands with an established operator who understands the cloud kitchens business.
The companies have also agreed to co-invest to develop a common technology platform and data analytics infrastructure which will be used by both companies. Besides both the companies sign an understanding of collaboration and consolidation synergies in future. Companies will leverage the JV to cut down on capital and operational expenses in thin margin cloud kitchens business.
Ghost Kitchens is India’s first and fastest growing bootstrap cloud kitchen company started in May 2019. A leading accelerator & growth investment firm, Ghost Kitchens focuses on India’s fast-growing food delivery market and will incubate and invest in companies that focus only on home delivery.
Kludio, the biggest cloud kitchen company in Bangladesh has been riding on the wave of a booming online food and beverage market enabled by a greater connectivity in markets such as Bangladesh, Sri Lanka, and Cambodia. Kludio aims to build a differentiated cloud kitchen platform to entice customers with unique value propositions. On the other hand, Ghost Kitchens India has invested in two cloud kitchen companies with 20 brands and is available in 50 locations with 180+ point of sales.
Talking about the joint venture, Karan Tanna, Co-founder of Ghost Kitchens says,” We are very excited with this joint venture. This will open up doors for both the companies to leverage each other’s infrastructure & grow in another country. Kludio is doing fantastic work and they are the first movers in the Bangladesh business and we are the fastest growing cloud kitchen company in India, this is a unique kind of joint venture which is really exciting.”
Kishwar Hashemee, CEO of Kludio adds,” The cloud kitchen space in Bangladesh is in it’s nascent stage and we are the flag bearers of growing the industry. We are very excited with the work that Ghost Kitchens is doing and their unit-level economies model is very disruptive and we will have lot to learn. The joint venture will bring in a lot of mutual synergies & benefit us in the long run.”
This strategic JV is a first in cloud kitchen space which is signed in two different countries & will give both the companies strategic partnership to take a market leader position.