Peckwater Brands, the virtual restaurant brand operator, has raised £15m in new funding, with participation from Stonegate and SoftBank.

The Series A fundraise follows a £3m seed round in 2021.

Peckwater also received follow-on investment from existing backers Fuel Ventures and Pembroke VCT.

This London-based company says its vision is “transforming the way that restaurants, pubs, cafes - any venue with a kitchen - approach the delivery market”.

In the UK, it claims to be leader in the UK virtual brands market, with 175 outlets, and plans to operate the largest kitchen network in the UK within two years.

The company is also establishing a presence in the US, with plan to launch across Europe – “in the very near future”.

Leo Bradshaw, CEO and co-founder said: “We’re building an operating platform to make sure our restaurant partners succeed in the delivery market. From machine learning-generated menus, to localised operating benchmarks & pricing, our partners will have the tools to delight consumers every time. This will ensure they build market-leading delivery businesses!

“We’re convinced we can build a business that benefits everyone - delivery platforms, consumers, and our restaurant partners. A huge thanks to everyone who has supported us so far - we’re excited to deliver big things.”