As part of its second venture capital fund, the specialized investment firm Manutara Ventures announced a $750,000 investment in the foodtech startup Atomic Kitchens, which operates in the food industry. The purpose of the funding, they explained, is to support the company’s expansion across Latin America.
The early-stage venture capital vehicle shared details of the deal through a statement, noting that the investment was in equity and marked their entry onto the tech firm’s board.
In addition to regional expansion, the financing aims to develop new business lines that synergize with the current business model. The foodtech company has set the ambitious goal of doubling its partner network between October 2023 and October 2024.
Founded in 2020 in Chile, Atomic Kitchens focuses on creating and connecting food franchises with restaurants and ghost kitchens—also known as dark kitchens—that have unused capacity.
This startup’s work, they explained, is supported by the development of its own data analysis technology, which allows them to optimize kitchen capacity, implement marketing strategies, and improve the offerings of these franchises.
Under this model, the company helps expand food franchises or brands without requiring large initial investments, while assisting established kitchens and restaurants in boosting their sales and operations. Their mission is to support and empower small food entrepreneurs.
Currently, Atomic Kitchens has over 900 franchises from its brands distributed across Latin America, with operations in Argentina, Bolivia, Chile, the Dominican Republic, and Uruguay. They have also launched a B2B marketplace in their main markets, reporting double-digit monthly growth.
Manutara Ventures, also founded in Chile, operates in Miami as well, offering entrepreneurs a platform to access U.S. markets and experience. The private equity firm has built an ecosystem of entrepreneurs and investors, helping to grow its portfolio of renowned startups. This includes Xepelin, ETpay, and OpenCasa—three young firms that, together, exceed $1 billion in valuation.
In the press release, Cristián Olea, Managing Partner of the venture capital firm, highlighted Atomic Kitchens as a startup with “high potential.” “Although the investment is recent, it’s highly likely that we’ll invest in them again if they continue with their current strong performance and traction, to avoid too much dilution in the next round,” he said.
Meanwhile, Atomic Kitchens CEO and co-founder Uriel Krimer stated that the investment “represents significant support for our vision and long-term goals.” He added, “We are committed to using this capital to drive sustainable growth, improve the profitability and professionalism of our partners, and expand our presence in both current and future markets, always with a focus on innovation and leadership in our sector.”
