Food & Drinks
Reggaeton Star Maluma Bets on Colombian Cloud Kitchen Startup
- Foodology raised $50 million with a roster of new investors
- Money will help fund new locations and expansion in Brazil
Colombia cloud kitchen startup Foodology raised $50 million with a roster of new investors that includes reggaeton superstar Maluma and Abu Dhabi’s Chimera Investments.
The Bogota-based company, which develops delivery-only restaurant brands, plans to use the funds to expand in Brazil and reach 100 kitchens by year end, co-founders Juan Guillermo Azuero and Daniela Izquierdo said in an interview. The money is an extension of its Series A round, and about $30 million of the total is debt lent by TriplePoint Capital while the remaining portion is equity, with repeat investors Andreessen Horowitz, Wollef and Kayyak Ventures alongside new names.