It also widened Cava's footprint in the United States from 66 locations to 327 in 24 states. In 2019, Cava opened its first Innovation Kitchen in August 2019 in Washington DC. According to data from Pitchbook, the restaurant company raised $230 million in April 2021 at a valuation of $1.71 billion. Investors have had mixed reactions to initial public offerings of restaurant chains. Fast casual salad chain, Sweetgreen, had gone public in 2021. But the company has since then seen its shares lose half their value over concerns regarding the company's profitability. Brazilian steakhouse chain Fogo de Chão filed for a public offering in 2021, but has not announced any details about it. Fogo had earlier gone public in 2015, but had issues in winning over its investors. The restaurant chain was sold for $560 million to private-equity group Rhone Capital in 2018. Read all the Latest News, Trending News, Cricket News, Bollywood News, India News and Entertainment News here.