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Total amount raised
$16M+
Latest funding date
2023-03-01
Location
SideChef has successfully raised $7.7 million over three funding rounds, establishing itself as a significant player in the home cooking industry. The platform offers a comprehensive suite of services, including interactive smart recipes, grocery delivery, meal planning, and smart kitchen connectivity.
What Is SideChef?
SideChef, founded by Kevin Yu, is a comprehensive home cooking platform that launched in 2014. The company is headquartered in Los Angeles, with additional offices in Zurich and Shanghai.
SideChef offers over 20,000 interactive smart recipes, grocery delivery, meal planning, and smart kitchen connectivity. It partners with major brands like Electrolux, LG, and GE Appliances to enhance the smart kitchen experience.
With a team of 70 employees, SideChef continues to innovate in the culinary space, making it easier for users to answer the age-old question, "What's for dinner?"
How Much Funding Has SideChef Raised?
- Seed Round
- Amount Raised: $1 million
- Date: December 2014
- Lead Investors: Empower Investment and Peacock Capital
- Motivation Behind the Round: To build a global community of cooks and change the way people cook and eat through their mobile app.
- Series A
- Amount Raised: Undisclosed
- Date: 2016–2018 (exact date undisclosed)
- Lead Investors: LG Electronics; other participants include LG Technology Ventures, AB Electrolux, Ideate Ventures, Peacock Capital, and additional institutional investors
- Motivation Behind the Round: To expand smart kitchen partnerships and grow the platform's grocery and recipe capabilities.
- Series B
- Amount Raised: $6 million
- Date: March 1, 2023
- Lead Investors: LG Electronics
- Motivation Behind the Round: To invest in the future of shoppable recipes and scale commerce-enabled cooking experiences.
SideChef has raised a total of more than $16 million across its seed, Series A, and Series B rounds, according to the company's own press release. The Crunchbase-tracked disclosed total stands at approximately $7M (with Series A amounts not publicly confirmed).
Key Investors
- LG Electronics
- Details: LG Electronics is a South Korean multinational electronics corporation and lead investor in SideChef's Series B ($6M, March 2023). LG also participated in the Series A round.
- Investment Focus Areas: Smart Home, Consumer Electronics, Technology Ventures
- Notable Investments: SideChef (Series A & Series B)
- LG Technology Ventures
- Details: The corporate venture arm of LG Group, investing in promising technology startups globally. Participated in SideChef's Series A and Series B rounds.
- Investment Focus Areas: Technology, Smart Home, Consumer Tech
- Notable Investments: SideChef and other technology startups
- Empower Investment
- Details: Empower Investment is a venture capital firm based in China, focused on early-stage investments in technology and consumer sectors. Lead investor in SideChef's Seed round.
- Investment Focus Areas: Technology, Consumer, Healthcare
- Notable Investments: SideChef (Seed round)
- Peacock Capital
- Details: Peacock Capital is a Hong Kong-based investment firm specializing in funding startups and growth-stage companies. Participated in SideChef's Seed and subsequent rounds.
- Investment Focus Areas: Fintech, E-commerce, Consumer Goods
- Notable Investments: SideChef (Seed & Series A/B rounds)
- AB Electrolux, Ideate Ventures, V-ZUG AG, Ilion Capital, Innolead Investment, KZone LLC
- Details: Additional institutional investors participating across SideChef's Series A and Series B rounds, collectively contributing to the company's total of more than $16 million raised.
What's Next for SideChef?
SideChef is poised to capitalize on the growing trend of home cooking and smart kitchen technology. With its interactive smart recipes and partnerships with major brands, the platform has a significant opportunity to expand its user base and enhance its technological capabilities. The potential for growth is immense, especially as more consumers seek convenient and innovative cooking solutions.
Future fundraising efforts will likely focus on scaling operations and entering new markets. However, SideChef will need to navigate challenges such as increasing competition and the need for continuous innovation. By staying ahead of industry trends and leveraging its strong investor backing, SideChef is well-positioned for continued success.
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