Home, Garden & Tools : Food & Drinks
Chefling
SEASON 3 : Episode 21
BRAND
Chefling
COMPANY NAME
Foxcom Foods Pvt. Ltd
FOUNDERS
Rounit Kashyap Gambhir
ORIGNAL ASK
40 lakhs for 10% equity at the valuation of Rs. 4 crores
DEAL
40 lakhs for 16% equity at the valuation of Rs. 2.5 crores
The Chef’s Kit is the easiest way to prepare restaurant-quality meals for three to four people at home. All the required materials, including sauces and garnishes, are included in each kit, saving you the trouble of finding different supplies. Goodbye trips to the grocery store—they will deliver high-quality goods right to your house. Cooking at home can be easily elevated with simple instructions. Try gourmet cooking right now with the Chef’s Kit.
Discover gourmet cooking at home with the Starter’s Kit, designed for two people. Each box offers a carefully chosen selection of excellent ingredients that are ideal for two servings, with an emphasis on simplicity. Long shopping lists are history because their kits include everything you need, without the extras.
Presenting the Mini Kit, intended for 2-4 individuals. Each kit contains only the essential materials needed to complete the recipe; it is designed for people who already have the majority of the ingredients at home but are missing certain crucial ones. The Mini Kit, designed with simplicity in mind, expedites the cooking process by including just the essential ingredients and nothing additional. It’s the preferred option for hassle-free, gourmet cooking at home.
They take great satisfaction in providing a wide variety of items, all of which are vegetarian-only.
highlighting the two best-selling kits: the Korean Gochujang Ramen Starter’s Kit and the Enchilada Chef’s Kit.
Founders & their story
- Rounit Kashyap Gambhir
Chefling, founded in August 2020, offers a unique DIY meal kit experience featuring global recipes such as Japanese, Mexican, and Italian cuisines. Each kit contains all nonperishable ingredients necessary to create a delicious dish, with options like the popular DIY Sushi Kit priced at Rs. 1299 for two servings. With over 5000 kits sold to date, Chefling has established itself as a prominent player in India’s burgeoning DIY meal kit market.
Recognizing the market potential, Chefling is strategically positioned to tap into the growing Indian DIY meal kit market, which is projected to reach 8000 crores by 2025. The company’s commitment to quality and convenience extends to its pan-India delivery service, ensuring customers nationwide can enjoy the culinary delights from the comfort of their homes.
While Chefling provides the essential ingredients, customers are encouraged to source fresh meat and vegetables locally to complete their meal, enhancing the overall freshness and flavour of the dish. In addition to its flagship DIY Sushi Kit, Chefling expanded its product line in October 2023 to include new and exciting recipes, catering to diverse palates and preferences. Looking ahead, Chefling aims to further innovate by introducing DIY Beer Kits, capitalizing on the growing trend of home brewing.
About the company
Rounit Gambhir is an enterprising young individual who embarked on a culinary journey with Chefling at the tender age of 25. Amidst the lockdown in Mumbai, India, they introduced Chefling, aiming to offer a personalized gourmet experience that’s both enjoyable and budget friendly. Their vision was clear: simplify the preparation of exotic cuisines. For those with a passion for food but limited time for cooking, Chefling was the answer. Gambhir’s brainchild, born in August 2020, aimed to deliver the world’s diverse culinary delights straight to people’s homes. The idea was to demystify fancy cuisines and make them accessible to all.
Revenue
Chefling has achieved impressive lifetime sales exceeding 60 lakhs, with a robust gross margin of 70%. The net margin, ranging between 45-50%, underscores the company’s profitability and efficient cost management. In the fiscal year 2022-2023, Chefling recorded sales of Rs 19.78 lakhs, resulting in a net profit of 10 lakhs. The company’s customer acquisition cost stands at Rs 400, indicating effective marketing strategies to attract new customers. With an average order value of Rs 1400, Chefling demonstrates strong customer engagement and satisfaction.
Noteworthy sales milestones include September 2023 sales totalling 1.59 lakhs, indicating sustained growth and customer demand. Additionally, the introduction of new kits in October 2023 generated sales of 1.2 lakhs, signalling successful product diversification. Looking ahead, Chefling projects sales of 40 lakhs for the fiscal year 2023-2024, reflecting its continued expansion and market penetration. With ambitious aspirations, the company aims to achieve an annual sales target of Rs 10 crores, highlighting its commitment to sustained growth and market leadership.
Founders’ Ask
40 lakhs for 10% equity at the valuation of Rs. 4 crores.
Offers
Azhar, Namita, Peyush and Amit’s offer: 40 lakhs for 20% equity at the valuation of Rs. 2 crores.
Anupam’s Offer: 40 lakhs for 15% equity at the valuation of Rs. 2.67 crores.
Founders’ Counteroffer:
40 lakhs for 15% equity at the valuation of Rs. 2.67 crores.
Final Offer
Azhar, Namita, Peyush and Amit’s offer: 40 lakhs for 16% equity at the valuation of Rs. 2.5 crores.
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