Shared Kitchen Monthly Kitchen Secures 2.3 Billion KRW Series A Investment

Photo by Monthly Kitchen

[Asia Economy Reporter Moon Hyewon] Shared kitchen ‘Monthly Kitchen’ announced on the 20th that it has successfully secured 2.3 billion KRW in Series A investment.

Monthly Kitchen provides an all-in-one kitchen and store rental service as well as a subscription service for food service management consulting. It currently operates its first and second branches in Yeoksam-dong and Nonhyeon-dong, respectively.

A representative from DS Asset Management, which participated in the investment, explained the background by saying, “Recently, the market outlook for shared kitchens across the food and distribution industries is bright, and investments are actively being made. Monthly Kitchen is expected to lead the market based on its differentiated business model, stable management capabilities of its executives, and excellent management skills.”

Monthly Kitchen plans to expand its stores and build a systematic service infrastructure with this investment as a turning point.

Kim Hyukgyun, CEO of Monthly Kitchen, said, “This investment is even more meaningful because it was made through common stock investment rather than redeemable convertible preferred stock (RCPS) or convertible bonds (CB), which shows a high evaluation of Monthly Kitchen’s growth potential. We will devote all our capabilities to becoming a platform business that leads trends in the rapidly changing F&B market.”