Funding round
Kitopi Series B
Kitopi, which works in food and beverage retail in United Arab Emirates, raised $60M in a Series B round announced on 3 Feb 2020, led by Knollwood and Lumia Capital. 10 firms took part. It is Kitopi's second venture round on record; the one before was a Series A in Nov 2018.
$60M
Amount raised
Not disclosed
Post-money valuation
10
Investors
2 leads
Valuation
What this round says about the price
Kitopi did not disclose a valuation in this round. It came 15 months after Kitopi's Series A. It is 11% of the $552M Kitopi has raised in the venture rounds on record. Kitopi raised again 17 months later: a Series C round of $415M in Jul 2021.
Kitopi's funding rounds
Kitopi has 4 venture rounds on record. This one is highlighted.
Investors
Who put money in
Knollwood and Lumia Capital led the round with 8 other firms.
Lead investors
- Knollwood new investor
- backs 19 venture-backed companies new investor
Also in the round
- backs 26 venture-backed companies new investor
- CE-Ventures new investor
- GIC backs 98 venture-backed companies new investor
- backs 12 venture-backed companies new investor
- backs 9 venture-backed companies new investor
- backs 45 venture-backed companies new investor
- MSA Capital new investor
- Wilshire Lane Partners new investor
Use of proceeds
What the money is for
According to the announcement, the money goes to product development, geographic expansion and scaling operations.
- Product development
- Geographic expansion
- Scaling operations
Comparable rounds
How it compares
The closest in time: Series B rounds in any sector within 6 months:
| Company | Announced | Amount | Post-money | Led by |
|---|---|---|---|---|
| OneTrust Tech Companies | 20 Feb 2020 | $210M | $2.70B | Coatue and Insight Partners |
| Medical Laboratories | 24 Feb 2020 | $165M | not disclosed | SoftBank Vision Fund |
| Real Estate Investment | 5 Feb 2020 | $103M | not disclosed | not named |
| Veev Home Builders & Renovation Contractors | 27 Feb 2020 | $97M | not disclosed | Zeev Ventures and Lennar Ventures |
| Astranis Aerospace and Defence | 13 Feb 2020 | $90M | not disclosed | Venrock |
| Ridesharing | 1 Feb 2020 | $72M | $472M | Bond Capital |
| Tech Companies | 18 Feb 2020 | $70M | not disclosed | Vintage Investment Partners |
| Tech Companies | 4 Feb 2020 | $60M | not disclosed | Unbox Capital and Itaú BBA |
Sources
Where this comes from
Reported by 5 sources.
Questions
Frequently asked
How much did Kitopi raise in its Series B round?
Kitopi raised $60M in its Series B round, announced in Feb 2020.
Who led Kitopi's Series B round?
Knollwood and Lumia Capital led it, with BECO Capital, CE-Ventures, GIC, Rise Capital and Reshape Ventures and 3 more.
What was Kitopi's valuation at the Series B round?
It was not disclosed.
Did Kitopi raise again after this round?
Yes: a Series C round in Jul 2021 of $415M.