Source – marchmontnews.com
Moscow Seed Fund, an institutional early-stage investor, and AddVenture, another Russian VC fund supporting Internet projects, are investing $347,000 in Chefmarket, an innovative Russian hybrid of a grocery store and a restaurant, the RVC web-site reported.
The project reportedly appears to be shaping a new format for foodstuffs retail in Russia. One can order food on Chefmarket.ru, the dedicated website. Unlike a conventional grocery store, Chefmarket is said to deliver a precise amount of foodstuffs required to cook a meal that a customer has chosen. The customer cooks himself or herself, aided by a step-by-step photo-recipe delivered with the food.
The latest investment will be funneled to fine-tune the product and scale the team’s sales strategy. The company wants to extend its line of goods on offer and launch sales outside Moscow and the Moscow region, starting its expansion from St. Petersburg.
Chefmarket was launched in mid-2012 by Sergei Ashin, an ex consultant at McKinsey and graduate of an MBA program at the London Business School. According to RVC, the project has grown fairly popular among people in Moscow and the neighboring region, boasting “thousands of active users and hundreds of lunches and dinners delivered on a daily basis.” It is a Russian analog of Blue Apron, a service that was valued at $450m and raised $50m in investment this past April.
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