Asda has announced that it has made an equity investment in Lean Kitchen Network (LKN), a digital brand creation and food service business.
The transaction represents a new step in the group’s partnership strategy, further broadening its food service offer for its customers.
Acting alongside Edition Capital, Asda’s investment precedes a larger Series A funding round due to take place later this year.
LKN, whose portfolio of brands includes virtual burger chain Twisted London, already works alongside food and drink retailers such as Pepsico, Heinz, and Doritos.
Preyash Thakrar, chief strategy officer at Asda, said: “Asda’s partnerships strategy is anchored around collaborating with innovative businesses like Lean Kitchen Network to bring new products and services to customers.
“Investing in the business is the natural next step in our relationship and we look forward to working with them as they drive positive change in the food-for-now market, leading to greater choice and improved quality for consumers.”
In addition to the funding, Asda is partnering with LKN to trial tech-driven food-for-now counters at four London sites.
Faraz Nagree, founder and CEO at LKN, added: “Our partnership with Asda represents a big step forward in our ability to provide high quality, affordable and exciting meals to our customers across the UK.
“Their unparalleled expertise and buying scale combined with our digital and food development capabilities will be truly disruptive for food-for-now and delivery as we grow at pace.”