Peckwater Brands, a London, UK-based developer of a technology platform that enables kitchen operators to succeed at delivery, raised £15m in Series A Seed funding.
The round was led by Stonegate Group with participation from SoftBank Investments (SBI), Fuel Ventures and Pembroke VCT.
The company intends to use the funds to develop its technology and to accelerate its expansion, with its UK team planning to take the company from operating in 150+ sites to being the largest kitchen network in the UK.
Peckwater Brands is advancing a technology platform for kitchen operators to succeed at delivery – including machine learning-generated menus and operations performance improvements.
The system helps restaurants and kitchens streamline the process of embracing virtual brands and multiple-franchise solutions. Working with partners across the hospitality spectrum, the company can transform any kitchen into a multi-franchise operation, integrating with their existing operations and opening them up to increased demand across different brands and cuisines.
Peckwater Brands builds delivery-only food brands, driven by data-led customer insight, for restaurants up and down the country. The orders are cooked and delivered from existing kitchens alongside their day-to-day operations.
The business operates a mix of licensed brands spanning several categories including chicken (Seoul Chikin, Flip the Bird, Wham Bam Wings, Katsu), burgers (Dukes, Proper Tasty) and have also run shared brands with partners such as Unilever, Buzzfeed, and Heinz.
This latest funding, which follows a £3m seed round in October 2021, brings the business’ post-money valuation to £65m.
As part of the investment, co-founder Sam Martin will now become Peckwater Brands’ CEO, with co-founder Leo Bradshaw, taking up the position of Executive Chair.
FinSMEs
20/06/2022