Zomato invests $15m in Loyal Hospitality, shuts cloud kitchen operations
Restaurant listings and food delivery firm Zomato has invested $15 million in Bengaluru-based Loyal Hospitality, confirmed a Loyal Hospitality executive to DEALSTREETASIA.
The first tranche of $5 million has already been invested in Loyal Hospitality, which provides a platform for restaurants to expand their operations and outlets through a shadow kitchen model. The infusion will help the company expand operations and outlets further in Bengaluru.
Zomato is also shutting down its own cloud kitchen operations under Zomato Infrastructure Services (ZIS), per an Economic Times report.
ZIS was a kitchen infrastructure service which aimed at working with current restaurant business owners to expand their business to more locations without incurring any fixed cost.