Food tech startup called Muy landed a fresh $15 million Series B to expand into Mexico and soon Brazil.
Calderon notes that cloud kitchens are poised to make on demand ordering and delivery more efficient in these high-density cities due to the long commute times that keep the growing middle class out of their homes for extended periods of 12 hours or more.
According to Calderon, the food service market opportunity in Latin America will reach $270 billion by 2021.
The founder also notes that the Latin America market is highly fragmented; the top 10 chains only hold around 5% of market share in comparison to countries like the U.S. where this figure reaches 24%.
For better or worse, delivery apps and cloud kitchens are revolutionizing the way we eat in the U.S., Asia and now in Latin America.
The winners among the various global delivery apps, cloud kitchens and controlling incumbents have yet to emerge, but what we do know is that everyone needs to eat lunch.