Technology

The Colombian MUY raises $15 million and plans to expand for Mexico and Brazil

ALLVP was the led from the investment received by the food tech that aims to be the leader of the cloud kitchen market in Latin America

LABS

31.Oct.2019 12:13 BRT
UPDATED 14.Feb.2020 16:38 BRT

MUY, a cloud kitchen company based in Colombia, raised $15 million from a Series B fund round led by ALLVP
Company’s total fund amount reached $20.5 million
To achieve the goal of making cloud kitchen popular in Latin America, MUY next steps is to expand its business to Mexico and soon also Brazil

This is the time for food techs in Latin America, with no room for doubts. The revolution on the way that Latin Americans order food started with the booming delivery market when companies such as iFood and Rappi won space very fast in the region. Now, the Latin American food market is getting into a whole new level: to make kitchen smart, not only by building new products using technology as companies such as NotCo and Fazenda Futuro are already doing pretty well, but also by betting on a new concept of a restaurant kitchen, which is the case of the Colombian MUY.

Defined by one of its investors as a “cloud kitchen meets Chipotle”, MUY already has a well-established operation in Colombia and raised $ 15 million in a Series B investment’s round led by ALLVP. The goal with the investment is to start expanding for Mexico and soon also for Brazil, according to TechCrunch.

With the main mission of reducing food waste, the cloud kitchen offers a collaborative and shared space for several chefs to cook at the same fulled equipped space, it means that MUY can have hamburgers, pizzas, Italian food, and the most different dishes being prepared at the same time in a shared kitchens, but all based on real demand to avoid wasting.

For restaurant owners, it is a great option because represents a huge cost decrease. On the other hand, for costumers, it means several food options at the same place for ordering at one physical location or online. It’s really a win-win game.

Being practical and fast for ordering food doesn’t mean having fewer options and not-healthy anymore and while this business-model is already winning popularity in the US and Asian markets, MUY is committed to open doors for the cloud kitchen business in Latin America.