Former Uber CEO's startup CloudKitchens raised US$400 million
CloudKitchens startup recently raised a US$400 million fund from the Saudi Arabian Wealth Fund (PIF). The new project was founded by former Uber CEO Travis Kalanik, the Wall Street Journal reports.
The deal between CloudKitchens and the PIF had been discussed since 2018 spring and took place in January 2019, the newspaper writes.
Prior to this, Kalanik had invested his own funds in the startup - US$ 200 million off Uber stocks sales, one source said.
CloudKitchens builds and leases premises to delivery-only restaurants and additionally develops software for them.
The PIF had also invested US$3.5 billion in Uber in 2016, WSJ said. Kalanik left Uber in 2017 following scandals in the company. In February 2019, Kalanik was reported to lure Uber employees into his new project.