Home meal delivery marketplace ChefPrep raised $3 million in a funding round.
The raise was led by Artesian Ventures and Global Founders Capital. Additional support came from Yellow Brick Road chairman Mark Bouris, Circular co-founder Yaniv Bernstein and Hungry House founder Graeme Horne.
Founded in May last year by Elle Curran and Josh Abulafia, following a $1.25 million seed round. The Sydney startup gives restaurants a platform to provide customers with frozen and ready-to-eat versions of their best-selling dishes. The marketplace now has more than 25 partners selling over 100 different products, and recently expanded to artisan pantry products. These brands include g Butter Sydney, Salt Meats Cheese, Delhi “O” Delhi, Bellevue Cottage and Bourke Street Bakery. ChefPrep currently delivers across Sydney, with plans to go national.
The funding will be used to expand ChefPrep’s product range, network of restaurants and artisan food producers, and add new delivery areas in New South Wales over the next six months. The company hopes to double its team by the end of the year.
Abulafia said they are fortunate to have extremely supportive investors.
“Our angel and seed investors bring deep industry knowledge and expertise, which we’ve been able to use to accelerate our growth and ability to scale,” he said.
“We are very grateful to Artesian, who have supported us since our inception and we are delighted to have Global Founders Capital join us on this journey – they have been true partners and are aligned with our vision to become a global platform.”
Its co-founder Curran, CEO of ChefPrep, said a nationwide launch is on their drawing board for 2022.
“Longer term, our mission is to create a global marketplace that enables food manufacturers to embrace e-commerce as a complementary revenue stream to their in-house offering, leveraging their existing resources and industry expertise. “, she said.
Over the next five years, we plan to expand into overseas markets, democratizing access to quality food experiences by connecting food lovers with the world’s best food makers, wherever they live.
Global Founders Capital APAC partner Melvin Hade said he sees the next trend in Australia’s food trade as ready-to-eat, premium, restaurant-quality meals for the home.
“ChefPrep’s value proposition is clearly a win-win solution for all stakeholders and the organic progress has been very encouraging in recent months,” he said.
“More than anything, we are thrilled to support serial entrepreneurs like Josh and Elle to shape the food retail space in Australia.”
Mark Bouris of Yellow Brick Road said: “I love food because it’s a non-negotiable, easy-to-understand staple, but most importantly, I support people like Joshua and his team as they identify market gaps and model the last mile or fulfillment with so much elegance!“