Kuiri Goes Crowdfunding and Raises €165,000 in 48 Hours

“Starting a profitable business in the restaurant industry is an impossible feat without a clear change of mindset that embraces technology and looks at the market from an entrepreneurial perspective.” This is narrated by Paolo Colapietro, CEO and Co-founder of Kuiri, the innovative startup created in September 2021 that just these days launched an equity crowdfunding campaign on Mamacrowd, raising €165,000 in the first 48 hours.

“With our work, we are carrying out a technological revolution that is drastically changing the rules in the urban restaurant market. We offer entrepreneurs the opportunity to experiment with new brands through the use of independent kitchens within our Digital Food Halls, i.e., premises equipped for the preparation of dishes of any kind.”

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The business

Kuiri, which means “to cook” in Esperanto, was created with the goal of connecting restaurant professionals by helping them accelerate all kinds of startups in the food industry by reducing costs, sharing space, and most importantly, ideas. Kuiri is a true network of metropolitan kitchens available to virtual and delivery brands, emerging or established.

In each “Digital Food Hall” there are 8 to 15 independent kitchens. To date, there are already 7 locations between Milan, Turin, and Rome, but KUIRI aims to expand further in major Italian metropolitan cities and abroad, with openings planned in Paris, Berlin, and London. All this is at the service of more than 60 customers and more than 80 virtual brands, bringing taste and culinary experience directly to the customer.

“Contract” production

For the past few months, Kuiri has also been developing a new business model: commissary kitchen, or contract manufacturing, which opens the Italian market to virtual franchises.

“Basically, we directly ‘produce’ the brand in the true sense of the word. We are able to zero in on bureaucracy, hiring, and logistics and especially attract the growing market of food brands from abroad and multinationals that can test their business quickly by relying on our structure.” Recounting this is Alessandro Righetti, co-founder and Cco of the startup. KUIRI’s great success is also due to a strong propensity for innovation.

“For us, it is fundamental to stay abreast of the latest technological trends, focusing on Artificial Intelligence and automation in the kitchen to offer cutting-edge services.”

Delivery and “multi-order”

Among the assets the Kuiri team provides to its customers is a centralized checkout system to simplify all the possible complications of a delivery-based business. In addition, through the Kuiri Megamix app, the proprietary platform allows the end consumer to multi-order, that is, purchase the entire offering with one order and one delivery service available to all brands in the network.

“Thanks to multi-ordering we are able to maximize the work of our riders who move 70 percent by bicycle. We can say without fear of contradiction that we are the first Italian operator in the sector and this is thanks to our technological assets and the numbers we have been able to produce.” Colapietro explains.

The numbers

Kuiri’s growth continues steadily year on year: 137 thousand orders processed, of which 35 thousand were in the first year of operation with a turnover of €1 million in 2021 doubled to €2 million in 2022. As can be imagined, also for KUIRI the startup costs weigh on the management of the whole network, but they are mitigated by the good profitability of the individual labs that show a positive Ebitda already from the first year, with a margin of more than 35% when fully operational.

The first 5 labs were completely self-funded, but now the company has decided to open its share capital to new members with an equity crowdfunding campaign that has been a success from day one. Believing in the project were entrepreneurs of national significance and important names such as Nicoletta Zampillo of the Del Vecchio family.

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(Featured image by StockSnap via Pixabay)

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First published in il denaro.it, a third-party contributor translated and adapted the article from the original. In case of discrepancy, the original will prevail.

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