[Funding alert] ChefKart raises $300K from Lead Angels, Titan Capital, Pravega Ventures, others
Gurugram-based ChefKart on Monday said it raised $300,000 in a pre-seed round from Titan Capital, Lead Angels, Pravega Ventures, Manyavar Family Office (Ravi Modi), Vipul Allawadhi (Co-founder, Kutumbh) and Puja Vijayvargiya.
ChefKart will use the funds to develop a product that can help users manage end-to-end kitchen needs, upskilling, training of cooks, acquiring more customers and chefs on the platform, and scaling up the business in Noida, Delhi.
Vaibhav Gupta, CEO and Co-founder, ChefKart, said,
"ChefKart has served over 500 customers even during COVID-19 times and managed to grow 50 percent MOM. Since inception, we have onboarded 2,200 service professionals covering almost the entire Gurugram. People see COVID-19 as an opportunity loss but it has proved to be a blessing in disguise for us as people have realised the importance of home-cooked food."
"We are onto creating something unique and big just like Uber and Urban Company, and this is just the beginning of our journey. And with Urban Company entering into this market, our journey became a lot more interesting given the large market size," Vaibhav added.
Founded in 2020 by Vaibhav Gupta, Arpit Gupta, and Aman Gupta, ChefKart provides trained and verified home cooks who make hygienic meals suited to the user's taste. In fact, it aims to operate and manage millions of kitchens across the globe.
"Our members at Lead Angels are thrilled to invest in ChefKart and feel a lot of value can be added in this unorganised sector. The pandemic coupled with the work-from-home situation will further enhance the demand," said Sushanto Mitra, Founder and CEO, Lead Angels.
"People spend a minimum of two hours every day on food — planning their meals, buying groceries, cooking food, or managing their home-chefs. With time, lesser people will cook their own meals and rely on someone to prepare it. Nothing can beat the taste, economics, and nutrition of home-cooked food. What ChefKart is solving is the need of the hour, and this service industry is really big, think global. With the product they envision, it is going to be an interesting journey with the team," said Mukul Singhal, Partner, Pravega Ventures.
According to Bipin Shah, Partner at Titan Capital, “ChefKart is streamlining an essential service industry, and the team has shown extensive growth in the past year. Their approach towards solving the problem is extraordinary, and we know this will become global.”