C3 (Creating Culinary Communities), global food tech platform founded by Sam Nazarian, announces a USD10 million strategic investment from Lurra Capital AG.
Based in Switzerland, Lurra Capital is an invitation-only private capital investment firm overseeing USD5 billion from UHNW investors and leading family offices. Lurra Capital has a track record of sourcing the most desirable and strategic investment opportunities globally via a highly effective and powerful network with a particular focus on venture capital and real estate. The investment was led by founder and CEO Tyron Birkmeir and is also a strategic partnership that gives C3access to Lurra Capital’s highly valuable relationships wdeith investors and partners globally.
“International expansion is one of our top priorities at C3,” says C3 Founder and CEO, Nazarian. “Partnering with private capital leaders like Lurra Capital opens up many avenues for us to continue expansions in markets we’d like to be more prominent in. The power of the network will bring C3 to new horizons, and we couldn’t be more excited about what is to come.”
Lurra Capital’s investment in C3 will support infrastructure expansion with C3’s growing digital restaurant brands, ghost kitchens, and bricks-and-mortar culinary centres. C3 operates more than 250 digital kitchens and has developed 40 restaurant brands, each generating an estimated additional USD1 million per outlet. These include Umami Burger, Sam’s Crispy Chicken, Kumi, Krispy Rice inspired by chef Katsuya Uechi, Cicci di Carne by globally renowned butcher Dario Cecchini, El Pollo Verde by chef Dani Garcia, Sa’Moto with chef Masaharu Morimoto, In a Bun, Plant Nation and more.
Lurra Capital Founder and CEO Tyron Birkmeir, and deal partner Giovanni Agostinelli, have been invited to the C3Advisory Board, alongside existing members Ron Burkle, Egon Durban and Greg Mondre of Silverlake Capital, Ari Ojalvo of REEF Technology, David Simon of Simon Property Group, JJ Dudum of Discovery Land Company, and Sofia Vergara amongst others.
As a strategic investment, this funding will support C3’s rapid growth in a few ways. The first is to continue the new brand and restaurant concept development across the company’s network of digital restaurant brands and ghost kitchens. It will also propel the food-tech platform into more markets by building on existing relationships with key partners like Chowly in the US, Kitopi in the UAE, and the 50/50 USD100 million joint venture with House WK Holdings to expand C3’s roster of brands into Saudi Arabia.
“Lurra believes in the evolution of ghost kitchens and strategic partnerships with gamers and content creators. C3 has its finger on the pulse of Gen Z consumers who are impacting the industry and consumer trends of today.” says Lurra Capital’s Founder and CEO, Tyron Birkmeir. “We are excited to be part of the C3 journey as it expands globally and we look forward to working with C3 as well as its brand partners to continue global expansion.”