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Kune Meals closes only one yr after beginning operations in Kenya

Kune, a Kenya-based startup that started as an on-demand meals supply service earlier than altering tack in latest months to grow to be a web based restaurant, closed right this moment, affecting 90 workers, a few of whom They have been employed final month. .

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

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

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

“For the reason that starting of the yr, we now have offered greater than 55,000 meals, acquired greater than 6,000 particular person purchasers and 100 company purchasers. However at $3 a meal, it simply wasn’t sufficient to maintain our progress… Coupled with rising meals prices hurting our margins, we simply could not proceed,” he wrote.

Under is Reecht’s full assertion.

Unhappy day. Kune Meals closed right this moment.

For the reason that starting of the yr, we now have offered greater than 55,000 meals, acquired greater than 6,000 particular person purchasers and 100 company purchasers. However at $3 a meal, it wasn’t sufficient to maintain our progress.

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

My first ideas go to my crew. 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 crew 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 possibly can name me if you happen to want any reference a few Kune worker.

My second thought goes to our buyers. 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 grow to be a foodtech startup with a know-how platform, a manufacturing unit, a kitchen studio, 7 distribution facilities, 6,000 clients, and a crew of 90 individuals. He not solely invested in Kune, but additionally gave us his time, breadth of mind, connections, and emotional assist. 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 form who supported us on our approach. I sincerely remorse the end result.

Many issues may have been executed otherwise, higher for sure. The subsequent few months will enable us to replicate on Kune’s failure, and I sit up for sharing it when the time is correct.

If you realize somebody who is likely to be keen on buying Kune’s mental property or property, please get in contact by way of non-public message.

Sincerely yours,
Robin

This can be a creating story.

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