Chernovetskyi Investment Group (CIG) became an investor of OneKitchen, leading shared kitchen operator in the Middle East region. The transaction became a natural extension of the company’s portfolio, which has deep expertise in food tech projects. The transaction value is not disclosed.
“First of all, we see great potential in the markets of the Middle East and in OneKitchen business model. The transaction itself allows Chernovetskyi Investment Group to access a new business area, the investment attractiveness of which is growing day by day. In addition, we are convinced that the experience of CIG in business of food and grocery delivery will be useful for OneKitchen”, comments Volodymyr Kryvko, Managing Partner of CIG.
OneKitchen is a United Arab Emirates-based chain of shared kitchens that allows its customers to launch a delivery-only kitchen quickly and without significant capital investments. OneKitchen provides restaurants with equipment, space, and all necessary assistance in connecting to popular food delivery services in the cities of presence. The project team has long-standing expertise in the restaurant business and in the development of technology companies.
“We are pleased to cooperate with Chernovetskyi Investment Group. Surely, CIG’s experience in food tech area will help us to create a unique product and enter new markets”, – said Majed Abukhater, one of the founders of OneKitchen project.
Chernovetskyi Investment Group (CIG) is one of the largest investment companies in Eastern Europe. The company was founded in 2013 with an investment potential of more than $100 million. The company's portfolio includes Ukrainian IT companies Softcube and Zakaz.ua. The latter was featured in Techstars, a famous accelerator in Boston. In 2015, CIG invested $1 million in a platform for children KIDO'Z (Israel) and $1 million in an international bus ticket booking service Busfor. In 2017, CIG invested in Indian food delivery service InnerChef, as well as Kray Technologies, a manufacturer of commercial drones for agricultural companies. In 2017, CIG founded an educational fellowship program CIG R&D Lab.