Chef Robotics raises $43.1 Mn led by Avataar Ventures
Summary
Chef Robotics, creators of AI-enabled robotic systems for meal assembly, has raised $43.1 million in new Series A funding, including $20.6 million in equity and $22.5 million in equipment financing debt.The equity round was led by Avataar Ventures and included investments from Construct Capital, Bloomberg Beta, Promus Ventures, MFV Partners, Interwoven Ventures, HCVC, MaC Venture Capital, Red and Blue Ventures, Tau Partners, Alumni Ventures, Siddhi Capital, and BOLD Capital Partners.The funding round will allow Chef to accelerate production deployments of its robotic systems, providing momentum for the real-world AI data engine flywheel that the company credits for its rapid growth rate of meals produced. The debt will be used to finance Chefs robotic systems for Robotics-as-a-Service (RaaS), ensuring that Chefs customers do not have to front CapEx for their robots.The new funding brings Chefs total capital raised to $65.6 million, which includes $26.75 million in equipment financing, all with Silicon Valley Bank, a division of First Citizens Bank.Chef claims to have produced over 44 million servings through robot deployments at brands such as Amys Kitchen, Sunbasket, Chef Bombay, and Cafe Spice. The data collected from each meal assembled is used to train its AI models. We believe were in the pole position to scale, given all the real-world production training data we already have," says Rajat Bhageria, Founder and CEO of Chef Robotics.Avataar Venture Partners is a growth-stage B2B fund focused on investing in companies at their inflection point for scaling. It has backed startups such as Capillary, Appnomic, CRMNext, ElasticRun, Manthan, and Zenoti, among others.
Funding
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