Chefee Robotics Shark Tank Episode Update & Net Worth

Chefee Robotics Shark Tank Episode Update & Net Worth

Chefee Robotics, founded by Assaf Pashut, appeared on Shark Tank in Season 15, Episode 17 seeking $500,000 for 4% equity, valuing the company at $12.5 million. Chefee is a fully automated robotic chef designed for home kitchens.

During his pitch, Assaf showcased Chefee, which can prepare meals, create customized meal plans, and manage grocery shopping through an integrated app. Chefee consists of an upper section that holds ingredients and fits in a standard kitchen cabinet, with a refrigerated left side and a dry storage right side.

With the innovative concept, the sharks had concerns about the high price (starting at $9,500 for basic models), pre-revenue status, and scalability.

Finally, Kevin O’Leary made a deal with Assaf for $500,000 in exchange for 15% equity, valuing the company at $3.33 million.

After the Shark Tank episode aired, Chefee Robotics saw a significant increase in website traffic and social media exposure. As of March 2024, the company is still in business and is working towards delivering the first Chefee units by Christmas 2024.

According to the Shark Tank pitch, Chefee Robotics’ net worth was $3.33 million as of March 2024, with an annual revenue of $10.9 million. With an estimated 10% yearly growth rate, the current net worth of Chefee Robotics is approximately $4.43 million as of August 2024.

What is Chefee Robotics? How Does It Work?

Chefee Robotics is a cutting-edge home kitchen assistant designed to simplify meal preparation for busy individuals and families.

The system consists of two main components: an upper storage unit that fits into a standard kitchen cabinet, and a lower cooking unit. The upper unit stores ingredients, with the left side refrigerated and the right side for dry storage.

Users interact with Chefee via an app, where they can order meals, and the system dispenses, weighs, and transfers the necessary ingredients into the cooking unit.

Chefee can be integrated with Instacart and Amazon Fresh for easy grocery ordering, making it an all-in-one solution for those who want to automate their cooking processes.

Chefee Robotics introduced a groundbreaking concept to the Shark Tank audience in Season 15 with its innovative robotic kitchen assistant.

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Entrepreneur Assaf Pashut pitched his creation, a robotic chef that can meal plan, track nutrition, cook, and even order groceries, all from the comfort of your kitchen.

This futuristic idea caught the attention of Kevin O’Leary, who offered $500,000 for 15% equity. Since the show, Chefee Robotics has been working diligently to meet its production goals, with plans to have the first models delivered by Christmas 2024.

Chefee Robotics Shark Tank Full Episode; What Happened at Shark Tank?

In the Chefee Robotics Shark Tank episode, Assaf Pashut asked the sharks for $500,000 in exchange for 4% equity, valuing his company at $12.5 million.

 Assaf demonstrated how Chefee could completely automate meal preparation, making healthy cooking more accessible for busy individuals.

He explained that Chefee could store ingredients, dispense them accurately, cook meals, and even order groceries through popular services like Instacart and Amazon Fresh.

Assaf shared that the base model of Chefee starts at $9,500, with premium models going up to $50,000. These price points depend on the number of ingredients the system can handle and the variety of meals it can prepare.

While Chefee was still pre-revenue at the time of filming, Assaf had secured a $500,000 letter of intent from a high-end kitchen remodeling company in Palm Springs, California.

Despite the impressive technology and potential market, most of the sharks expressed concerns about the high cost and the challenges of bringing such an advanced product to market.

Barbara Corcoran, Robert Herjavec, Lori Greiner, and Mark Cuban all passed on the opportunity, citing doubts about the product’s market adaptability and the financial risks involved.

However, Kevin O’Leary saw the potential in Chefee Robotics and offered $500,000 for 15% equity. After some negotiation, with Assaf countering at 8% and later 12%, Kevin stood firm, and Assaf ultimately accepted Kevin’s original offer.

What Happened to Chefee Robotics After Shark Tank?

Following its appearance on Shark Tank, Chefee Robotics has continued to develop its product, focusing on manufacturing and preparing for market launch. The partnership with Kevin O’Leary has provided the company with the resources and guidance needed to move forward with production.

 According to the Chefee Robotics website, customers can now reserve their units, which are expected to be delivered by Christmas 2024. The company is also offering perks such as $1,000 in groceries and early-bird pricing for those who pre-order.

How Much Is Chefee Robotics Worth?

As of 2024, Chefee Robotics is estimated to be worth around $3.3 million, based on the $500,000 investment for 15% equity made by Kevin O’Leary.

This valuation reflects the company’s potential in the high-end kitchen appliance market and the innovative technology it brings to the table. With the upcoming product launch and the backing of a shark, Chefee Robotics is poised for growth.

Is Chefee Robotics Still in Business?

Yes, Chefee Robotics is still in business and actively working toward fulfilling its market launch goals. The company is on track to deliver its first models by the end of 2024, with pre-orders already available on its website.

The partnership with Kevin O’Leary has provided the necessary capital and strategic support to bring Chefee to market, and the future looks promising for this innovative kitchen technology.

Which Episode Number Was Chefee Robotics on Shark Tank?

Chefee Robotics was featured on Shark Tank during Season 15, Episode 17, which aired on March 9, 2024. During this episode, Assaf Pashut presented his revolutionary kitchen assistant to the sharks, seeking investment to take his product from prototype to market.