2023
Marubeni Invests in U.S. Food Tech Incubator KitchenTown：
Beginning Global Business Support Services for Food Tech Startups and Food Manufacturing Companies
Apr. 13, 2023
Marubeni Corporation
Marubeni Corporation (hereinafter, “Marubeni”) and Kitchen 51 Ventures, Inc. (hereinafter, “KitchenTown”), a Silicon Valley-based incubation service provider for food startups and food manufacturers in the food tech industry, signed an investment agreement (hereinafter, the “Agreement”) on April 13, 2023.
Signing Ceremony
Exterior of KitchenTown
Interior of KitchenTown
In recent years, in the food industry in particular, global challenges such as climate change, the food crisis, and nutrition and health inequities are driving entrepreneurs to create a new generation of more sustainable, accessible, and healthy foods. While the presence of startups with a mission to solve these global challenges through food tech is increasing, these startups need to overcome various hurdles such as those relating to product development, commercialization, and marketing to scale their businesses. The need for incubators to support these startups is increasing year on year.
KitchenTown was established in 2013 in Silicon Valley, a location for many food tech startups, to serve as an incubator specializing in food tech. In addition to having expertise and resources to provide strategy and R&D support to startups, the company provides prototyping facilities and space for R&D and small-scale product manufacturing. In addition to supporting startups, KitchenTown has a broad client base, including legacy companies that need innovation support as well as corporate venture groups seeking advice on food tech investment opportunities.
Through this agreement, Marubeni will support the growth of KitchenTown’s incubation services and support startups and companies in the food industry, with an emphasis on those in Japan and Asia, to enter the U.S. market. This can be considered the first time that a Japanese company has entered into an investment agreement with a major U.S. food tech incubator to provide business support and assistance for overseas expansion to food tech and related companies in Japan and Asia.
| KitchenTown Overview | |
| Company Name: | Kitchen 51 Ventures, Inc |
| Location: | 1001 Howard Ave. San Mateo CA, US |
| Establishment: | December, 2013 |
| Founder and CEO: | Russell Schwartz |
| Main Business: | Provide incubation services to food tech startups and food companies |
| Website: | https://kitchentowncentral.com/ |