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.
Stonegate Group led the round with participation from SoftBank Investments, Fuel Ventures, and Pembroke VCT.
The company plans to use these funds to further develop its technology and accelerate its expansion. With its UK team, the company plans to expand from its 150+ locations to become the UK’s largest kitchen network.
Peckwater Brands is advancing a technology platform for kitchen operators to succeed at delivery – including machine learning-generated menus and operations performance improvements.
This system streamlines the process for restaurants and kitchens to embrace virtual brands and multi-franchise solutions. With the help of partners from across the hospitality sector, the company is able to transform any kitchen in order to become a multi-franchise business. It integrates with their existing operations, opening them up and increasing demand for different cuisines and brands.
Peckwater Brands develops food brands that deliver only, using data-led customer insights. Orders are prepared and delivered in existing kitchens, as well as their daily operations.
The business has a variety of licensed brands that span several categories, including chicken (Seoul Chikin and Flip the Bird), Wham Bam Wings and Katsu), burgers and burgers (Dukes and Proper Tasty), and also runs shared brands with partners like 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.