Yifeng Yu's company, Yu Eat, has secured a €2 million investment from Wapinvest to enhance its operations in the fast-growing virtual kitchen sector across Europe.
Information on the Target
Yifeng Yu is carrying on his family's tradition in Asian cuisine by integrating modern technology into the food industry. His company, Yu Eat, specializes in selling Chinese and Korean recipes alongside carefully selected ingredients and effective marketing strategies to restaurant owners. This approach optimizes their revenue through online sales and delivery via leading platforms in the market.
Having grown up in the kitchen of his family’s Asian restaurant in Enghien and educated at the Solvay Business School, Yifeng Yu focused his thesis on a significant trend within the restaurant sector: virtual kitchens, also known as 'dark kitchens'. These establishments do not necessarily have physical dining spaces, instead preparing dishes for order through various delivery platforms such as Deliveroo, Uber Eats, and Takeaway.
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Industry Overview in Belgium
The Belgian food service industry has been undergoing transformation, especially with the rise of digital platforms for food delivery. This shift was accelerated by the COVID-19 pandemic, which resulted
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Wapinvest
invested in
Yu Eat
in 2023
in a Seed Stage deal
Disclosed details
Transaction Size: $2M