IPOboard resident CHEFMARKET raised a series A round

20.12.2013

CHEFMARKET, a culinary service and a resident of IPOboard system, raised a series A round from ADDVenture venture fund. The amount and financing conditions are not reported. Capital raised in series A round will be used to develop the website (increasing conversion , developing social functions and embedded web-services ), improve the CRM-system to optimize processes within the company (order processing and delivery automation system, management reporting ), promote the concept in Moscow and Moscow region, and prepare for scaling the project to other cities . “We plan to grow through franchise and have already begun preliminary selection of potential partners,” Sergey Ashin, the founder of SHEFMARKET, has shared. “The project is focused on major cities of Russia and we are planning to expand the project in Western countries at a later stage,” he states.

 

CHEFMARKET is the first cookbook store in Russia. It allows the users choose a dish that they want to cook themselves, get all the necessary ingredients and use step by step cooking recipes. The service helps those who do not have time to search for recipes and trips to the grocery stores, as well as those who are not good cooks. Those who use CHEFMARKET on a regular basis note lower costs of groceries as they do not get stale in fridges and, accordingly, are not thrown into the trash. The website has more than 230 recipes posted, ingredients for any of which can be obtained within 3-4 hours after placing your order. About 20 new dishes are added every month. Each dish comes with a detailed photo recipe. Just follow the sequence and you are guaranteed to get your dish as from the restaurant and you can save 2-3 times on this.

For your convenience, the company offers its services both as a website and a special application for iOS or Android. The company also provides a large amount of bonuses, discounts and promotions, which makes such service more unique and loyal.

It is noteworthy that the number of clients in the project launched in summer 2012 increased by 20-30% per month. The high quality products delivered are bought exclusively from certified suppliers, while storage and processing are carried out at the professional kitchen factory. It is important that the products are delivered ready- to-cook, vegetables are delivered washed, and fish and shrimp - peeled. The company also delivers broths for those recipes where they are needed. All this greatly reduces the overall cooking time, making it easy and fun.

It is necessary to add that the service sector provides a positive trend in many developed countries. For example, in the U.S. in 2012 venture capital funds invested about 360 million U.S. dollars in similar projects.

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