Chernovetskyi Investment Group invests in Indian food delivery InnerChef
Chernovetskyi Investment Group (CIG) together with other investors participated in a new round of financing raised by a fast growing Indian food delivery startup InnerChef. This investment is a part of the CIG’s global strategy of expansion in the food-tech.
InnerChef is one of India's fastest growing food tech companies. Within 2 years, it has grown up to 75,000 meals per month. InnerChef specializes in a range of ready-to-eat products of European, Mediterranean and Indian cuisines. The customers can choose from a wide variety of all-day breakfast, salads, paninis, combos, mains, snacks, drinks, along with curated desserts and cakes. For the ones who love to cook without the hassles of cooking, InnerChef offers 15 min meals - the boxes delivered with chopped, portioned and prepped ingredients to cook at home in up to 15 mins.
InnerChef also runs a marketplace for desserts with over 150 leading bakers of India already present on the platform.
Currently, the company runs 12 kitchens in the 4 Indian cities: NCR (5), Bangalore (4), Mumbai (2) and Hyderabad (1). The funds raised in the round will be used, among others, to accelerate InnerChef’s plans to expand rapidly in the existing and new cities of India.
“We have participated in the InnerChef’s funding round together with wide range of investors since the development in the food-tech is of strategic importance for CIG. Our decision took into account high speed of company’s growth and the fact that, amongst all kitchen in the cloud companies, InnerChef enjoys the highest AOV of Rs 550/- (USD 8.5). Furthermore, we are interested in the huge potential of the Indian market”, - said the managing partner of Chernovetskyi Investment Group (CIG) and board member of FOODOUT GROUP Volodymyr Kryvko.
He mentioned that, in CIG’s portfolio currently, there are investments into food delivery service Zakaz.ua (https://zakaz.ua) and Ukraine’s leading food delivery service EDA.UA (https://eda.ua/).
Moreover, recently EDA.UA has merged with the major food delivery player operating in Baltics - FOODOUT. As a result, such merger created one of the largest food delivery company in Eastern Europe, Foodout Group. For details follow the link: https://goo.gl/Sjpnpw.
Chernovetskyi Investment Group (CIG) is one of the largest investment companies in the post-Soviet (CIS) market. Founded in 2013, its investment potential is more than $750 million. CIG has already invested in the following IT companies: Eda.ua, Doc.ua and Zakaz.ua. The latter company featured on the program of Techstars, a world famous accelerator, in Boston. In 2015, CIG invested $1 million in KIDO’Z (Israel), a platform for children and $1 million to the international online bus ticket booking service Busfor. For details follow the link: http://chernovetskyiinvestments.com