ChefKart Raises $2 Million Seed Fund
The fund raised will be utilized to further ChefKart's vision to become the lead provider of subscription-based at-home cooking services in Gurugram and expansion to other geographical territories
ChefKart, a Gurugram-based at-home cooking services platform, has raised $2 million in Seed funding round led by Pravega Ventures and Blume Ventures. The round also witnessed participation from Deepinder Goyal, Titan Capital, Kunal Shah, Tremis Capital, Lets Venture and other prominent angels. The fund raised will be utilized to further ChefKart's vision to become the lead provider of subscription-based at-home cooking services in Gurugram and expansion to other geographical territories.
"We have served over more than 3200 families and are managing over 2300cooking sessions daily with a 15 per cent MOM growth 3 co-founders being Guptas, cost-saving is our DNA. Urban Company shutting down their chef services again makes us the market leader and proves our mantle of running and building a large-scale enterprise," said Vaibhav Gupta, CEO and founder, ChefKart.
ChefKart is transforming the hospitality industry by upskilling the unorganized home cooking spacer. The company has also built hyperlocal marketing and established supply control in Gurugram, with strategic plans for the upcoming expansion to other regions. It has launched new lines of business, Chef for parties, and the team is also working on expanding through adjacencies available in the business, as per company statement.
"ChefKart is driven by the idea to digitize an essential service that is largely unorganized. They are the pioneers in streamlining an industry with tremendous untapped market potential in capturing customer food wallets. By also empowering the local community, they are on their way to developing a complete ground-to-customer supply-demand chain. It may be a challenging process, but the positive cash cycle model of ChefKart has significantly changed the wat at-home cooking functions in India," said Mukul Singhal, co-founder and partner, Pravega Ventures.
Founded in 2020 by Vaibhav Gupta, Aman Gupta and Arpit Gupta, to solve the problem of the lack of reliable at-home cooking services. The company forecasts aggregation on top of the grocery delivery space, with a goal to capture the time spent by consumers planning their daily meals and their arrangements.
According to market studies, the food service market size is estimated to reach $95.75 billion by 2025 with a CAGR of 10.3 per cent.