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Kune Meals closes only a 12 months after beginning operations in Kenya – TechCrunch

Kune, a Kenya-based cloud kitchen, closed as we speak, affecting 90 staff, a few of whom had been employed final month.

The startup was based in December 2020 and ran a check run in Kenya within the first few months of 2021 earlier than formally beginning operations later that 12 months.

In a LinkedIn submit, Robin Reecht, the startup’s founder and CEO, introduced the closure after failing to boost funds to maintain operations going, whereas blaming the “financial downturn and tightening funding markets.”

A 12 months in the past, Kune Meals raised $1 million in seed funding and in addition borrowed an undisclosed quantity from a financial institution in Kenya. Earlier this 12 months, the startup stated it was elevating $3.5 million from native and worldwide traders to extend its manufacturing capability.

“Because the starting of the 12 months, now we have bought greater than 55,000 meals, acquired greater than 6,000 particular person shoppers and 100 company shoppers. However at $3 a meal, it simply wasn’t sufficient to maintain our development… Coupled with rising meals prices hurting our margins, we simply could not proceed,” he wrote.

Beneath is Reecht’s full assertion.

Unhappy day. Kune Meals closed as we speak.

Because the starting of the 12 months, now we have bought greater than 55,000 meals, acquired greater than 6,000 particular person shoppers and 100 company shoppers. However at $3 a meal, it wasn’t sufficient to maintain our development.

With the present financial downturn and funding markets tightening, we had been unable to boost our subsequent spherical. Coupled with rising meals prices hurting our margins, we simply could not maintain going.

My first ideas go to my group. You place your coronary heart and soul into constructing the Kune that so many individuals cherished. I’m deeply sorry that it didn’t work.

To all my fellow employers, take a look at Kune’s “worker web page” on LinkedIn and see if any of our group members can meet your hiring wants. I do know these are powerful instances for you too. However they’re fabulous individuals who will carry nice worth to your organization. You may name me when you want any reference a couple of Kune worker.

My second thought goes to our traders. A few of you joined Kune’s journey when it was simply me and a Chef, delivering meals on foot to a close-by workplace. Others joined later and helped us turn out to be a foodtech startup with a know-how platform, a manufacturing unit, a kitchen studio, 7 distribution facilities, 6,000 clients, and a group of 90 folks. He not solely invested in Kune, but additionally gave us his time, breadth of mind, connections, and emotional help. I deeply remorse that Kune’s imaginative and prescient didn’t come true. Betraying your belief is one thing I’ll by no means forgive myself for.

My third thought goes to the suppliers, clients, bankers and companions of any sort who supported us on our approach. I sincerely remorse the outcome.

Many issues might have been completed in another way, higher surely. The following few months will permit us to mirror on Kune’s failure, and I look ahead to sharing it when the time is true.

If you realize somebody who could be focused on buying Kune’s mental property or belongings, please get in contact by way of personal message.

Sincerely yours,
Robin

This can be a creating story.

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