Filipina-Led Startup MadEats Raises P88.9 Million in Seed Funding

Filipino cloud kitchen and food startup MadEats has just closed its seed funding round after raising a total of $1.7 million (about P88.9 million). The funding round was led by JAM Fund, Crystal Towers Capital, Starling Ventures, Manila Angel Investors Network, and Rebel Fund. Prior to this round, MadEats counted Silicon Valley’s Y Combinator and PayMongo’s 335 Fund as investors. 

MadEats plans to use the funds to bring its food brands closer to customers. The startup plans to launch more F&B brands, expand to more ghost kitchens in Metro Manila, and make its products more accessible to customers in the city. 

The startup currently runs three brands: Korean fried chicken shop Yang Gang, Chinese takeout brand Chow Time, fried rice shop Fried Nice, affordable coffee brand Dot Coffee, dessert kitchen MadBakes, and catering shop MadMakes. 

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>pMadEats prides itself as a “full-stack” delivery-only startup. An end-to-end F&B company, MadEats builds its own food brands, processes orders on its own via madeats.co, and fulfills deliveries with MadEats’ exclusive fleet of riders. The startup currently has three ghost kitchens in Metro Manila—Makati, Manila, and Quezon City—and plans to open more as it expands its services throughout the capital. >pCloud kitchens often do not have storefronts, but MadEats is in talks to bring its business to the brick-and-mortar community to allow customers to visit and pick up orders in person. A MadEats app is also in the pipeline, and the startup’s kitchen expansion plan includes outfitting its ghost kitchens with its latest custom tech, such as MadKitchenOS. >p“We’re really excited about building more kitchens across Metro Manila & scale the virtual concepts we created the past year. It’s about time F&B innovates and we want MadEats to be the modern-day virtual restaurant, focusing on creating better products and scaling them faster through ghost kitchens so customers get a better dining experience, wherever they are,” says CEO Mikee Villareal. >p“The MadKitchenOS is something we’ve all been working really hard on. We believe that this is what will really help us scale faster.” >pMadEats was founded in 2020 by Mikee Villareal, Keisha Lao, and Andie Cruz. >p