Travis Kalanick’s secretive new food start-up has taken $400 million of funding from Saudi Arabia’s Public Investment Fund, the Wall Street Journal reported, citing people familiar with the matter it didn’t identify.
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A spokesman from PIF declined to comment.
The idea is to let eateries add new business without needing to lease a traditional restaurant space. The UK’s Deliveroo helped pioneer the idea, but CloudKitchens – a subsidiary of Kalanick’s Los Angeles-based City Storage Systems – acquired London-based dark kitchen startup FoodStars last year according to a Financial Times report in March.
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