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Chef Robotics raises $43.1 Mn led by Avataar Ventures

EntrackrEntrackr · 5m ago
Chef Robotics raises $43.1 Mn led by Avataar Ventures
Medial

Chef Robotics, creators of AI-enabled robotic systems for meal assembly, has raised $43.1 million in new Series A funding, including $20.6 million in equity and $22.5 million in equipment financing debt. The equity round was led by Avataar Ventures and included investments from Construct Capital, Bloomberg Beta, Promus Ventures, MFV Partners, Interwoven Ventures, HCVC, MaC Venture Capital, Red and Blue Ventures, Tau Partners, Alumni Ventures, Siddhi Capital, and BOLD Capital Partners. The funding round will allow Chef to accelerate production deployments of its robotic systems, providing momentum for the real-world AI data engine flywheel that the company credits for its rapid growth rate of meals produced. The debt will be used to finance Chef's robotic systems for Robotics-as-a-Service (RaaS), ensuring that Chef's customers do not have to front CapEx for their robots. The new funding brings Chef's total capital raised to $65.6 million, which includes $26.75 million in equipment financing, all with Silicon Valley Bank, a division of First Citizens Bank. Chef claims to have produced over 44 million servings through robot deployments at brands such as Amy's Kitchen, Sunbasket, Chef Bombay, and Cafe Spice. The data collected from each meal assembled is used to train its AI models. "Robotics is really having a moment right now. The innovations in AI have unlocked the potential of Embodied AI for robotics. We believe we're in the pole position to scale, given all the real-world production training data we already have," says Rajat Bhageria, Founder and CEO of Chef Robotics.

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Lo! Foods raises $3.5 Mn in Series B round

EntrackrEntrackr · 1m ago
Lo! Foods raises $3.5 Mn in Series B round
Medial

Lo! Foods, a Bengaluru-based functional food startup, has raised $3.5 million in Series B funding led by Rainmatter Health (Zerodha's health initiative) and Singapore-based Capital Code, with participation from Mount Judy Ventures, Ice.VC, KPB Ventures, and other existing investors. The proceeds will be used to expand warehousing, enhance backend technology, launch offline pilots in Bengaluru, and invest in brand-building for Protein Chef. According to the company, the brand has rapidly emerged as Lo! Foods’ biggest growth engine, contributing significantly to the startup's near-Rs 100 crore annual recurring revenue milestone. Lo! Foods operates across four verticals, Protein Chef (protein enrichment), Keto Smart (weight loss), DiabeSmart (diabetes management), and GlutenSmart (gluten intolerance). The brand's scale has been accelerated by strong adoption on quick commerce platforms such as Blinkit, Zepto, and Swiggy Instamart, which now account for nearly 65% of its total sales. The firm is also preparing to launch new product lines and rebrand DiabeSmart to Sugar Smart for better market positioning.

Exclusive: Niqo Robotics raises $9 Mn in a new round

EntrackrEntrackr · 1y ago
Exclusive: Niqo Robotics raises $9 Mn in a new round
Medial

Agritech robotics firm Niqo Robotics (formerly TartanSense) has raised Rs 74.7 crore or $9 million in a new round led by Brida Innovation Ventures. The fresh funding comes after a hiatus of three years for the Bengaluru-based company. The board of Niqo Robotics has passed a special resolution to issue 8,577 preference shares at a price of Rs 87,090 each to raise Rs 74.7 crore, its regulatory filing accessed from the Registrar of Companies shows. Bidra Innovation Ventures pumped in Rs 41.5 crore while exiting investor Omnivore Partners also subscribed to the round with Rs 33.2 crore. As per startup data intelligence platform TheKredible, the company has been valued at around Rs 290 crore or $35 million (post-money) Following the fresh proceeds, Omnivore Partners emerged as the largest external stakeholder with 25.7% followed by Brida Innovation and Blume Ventures which commanded 18% and 10.7%, respectively. Its sole founder Jaisimha Rao holds more than a quarter of the company. See TheKredible for the complete shareholding pattern. Founded in 2015 by Jaisimha Rao, Niqo Robotics specializes in crafting compact agricultural robots empowered with AI-driven computer vision technology which claims to reduce costs and increase profitability. The company announced its rebranding to Niqo Robotics in March last year. Niqo Robotics has raised $16 million to date including its $5 million in Series A round from FMC, Omnivore, and Blume Ventures in August 2021. The firm also scored a $2 million Seed round in 2019. While the company would disclose its FY24 numbers later this year, the nine-year-old firm’s Indian entity largely remained in pre-revenue stage with a revenue of only Rs 1.3 crore during FY23. At the same time, its losses spiked twofolds to Rs 9.8 crore in the fiscal year ending March 2023.

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