Kitchen Labs Holdings, LLC (“Kitchen Labs” or the “Company”), a ghost kitchen and virtual food hall operator expanding into high-growth markets in the U.S., has announced the successful closing of its first equity capital raise with participation from individual and institutional investors in the U.S., Latin America and Europe. The funding raised in this round will finance the construction and launch of its first Ghost Kitchen in Miami – a tech-enabled facility equipped with 24 leasable kitchens and a virtual food hall to accommodate walk-in customers.
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Kitchen Labs will focus on leasing the ready-to-use kitchens to all types of restaurants and food entrepreneurs for delivery and onsite dining purposes. Ghost kitchens allow these operators to open new locations with low upfront capital and reduced overhead expenses to improve profitability and facilitate expansions.
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Kitchen Labs’ Miami facility is expected to open in the first half of 2022 and is the first facility in the Company’s portfolio. The facility will host 24 different restaurants with a variety of cuisines and concepts. Its prime location in Downtown Miami benefits from having some of the strongest demographics in the state and within delivery-range to more than half-a-million habitants across major urban areas including Downtown, Brickell, Coral Gables, Edgewater, Midtown, and Wynwood. The facility is attached to a 500-unit residential building with more than 1,000 habitants and within walking-distance to several landmark projects such as the Station, MiamiCentral, Miami WorldCenter, Waldorf Astoria and FTX Arena (formerly known as the American Airlines Arena).
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