Cooking is a basic household task that not only brings satisfaction but also helps meet a family’s nutritional needs. However, it can be challenging to balance cooking with work responsibilities, and some people may struggle with cooking or may not know how to prepare meals at all.
Assaf Pashut, the owner of Chefee Robotics, has introduced the world’s first robotic chef to make life easier for all those who look after the food requirements of a family. The robot not only cook’s food but also track nutrition, orders groceries, and plans meals for the family. The ingredients are stacked on a weekly basis which can be ordered through the Chefee app.
The owner came on Shark Tank to request $500K in exchange for 4% in his company. He also presented the sharks with three dishes including Spanish paella, spicy ratatouille, and tofu tikka masala made by the robot. Let’s see if he got the deal or not.
Chefee Robotics Net Worth Shark Tank Update
Assaf was looking for an investment of $500K in exchange for 4% equity in the company. At the time of the episode, he valued his company at $12.5 million. Assaf successfully secured a deal with Kevin O’Leary for an investment of $500K for 15% equity in the company. The investment adjusted the company’s net worth to around $3.33 million. After the show was aired, Chefee Robotics experienced a good boost in exposure. As per my rough estimate, the current net worth of Chefee Robotics in 2024 is around $8 million.
Shark(s) name
Offer & Demand
Counteroffer
Accepted?
Kevin O’Leary
$500K for 4% equity
$500K for 15% equity
Yes
Mark Cuban
Out
N\A
N\A
Lori Greiner
Out
N\A
N\A
Robert Herjavec
Out
N\A
N\A
Barbara Corcoran
Out
N\A
N\A
The Owner’s Backstory
Assaf related that he worked for 1000 hours to learn about mechanical engineering and 3D printing. He even slept under the 3D printer for a week to achieve his ambition of making a robotic system. Now, he has his own functional system of a robotic chef that can cook a variety of dishes just by giving instructions on the phone.
The owner came on the show to seek $500K for a 4% equity stake. The product is basically a chef that operates like a robot and makes delicious food automatically. The Chefee robotics weighs, combines, dispenses, and cooks food for its owner. It is made of two parts including the upper which stores and dispenses ingredients and the lower which basically cooks food.
Queries about the Product
Lori asked the first question about the making of fresh ingredients like meats and other proteins. Assaf highlighted that the left part of the upper cabinet is basically a refrigerator.
He also added that his company is robotics so the ingredients are not ordered from his company. However, through the subscription model, a person can order through Amazon and Instacart.
Herjavec inquired if the cooker used is a standard one. He replied that his company is not into making cookers but building a robotic ecosystem that makes the appliances more automatic.
Corcoran asked if the system could work with any countertops. The owner pointed out that it can’t work with a random one and thus his robot comes with an induction cooker to be used.
Kevin was interested to know the cost to buy and install the whole system. It will cost about $9500.
Herjavec asked if the refrigerator also came with it. Assaf explained that it only comes with a premium version which is about $40K to $50K.
Kevin asked about his plans to launch it into the market if he hasn’t done so now. The owner replied that his company is a pre-revenue. He has already got an LOI, letter of intent, of $500K signed from a kitchen remodeling company. Their product has already been displayed on social media and also to designers, builders, and high-end kitchen appliance companies like Wolf Sub-Zero.
Corcoran asked if he had actually installed the system. He replied that so far there have been three installations. One of them has been installed in the investor’s home, one in their headquarters, and the last one on the set of Shark Tank.
Cuban wanted to know about his shipment so far. Assaf replied in the negative and explained that he didn’t want to fall short of the customer’s expectations with his under-delivery. Besides he came on the show just to raise money for the manufacturing, which will help him in shipping as well.
Herjavec inquired about his raised amount. The raised amount is about $450K and he has invested $90 from his own pocket too.
The shark also wanted to know his cost to make the $10K system. He highlighted that it takes him about $1500 in material and $1K in labor.
He also added that his company is based on robotics and has a patent pending in the U.S. and also abroad for the entire system, the custom parts, and the embodied form.
Kevin asked about the maintenance part of the kitchen. The owner replied that it can be done through a handyman easily with a platform like TaskRabbit as the system is very simple to handle.
Shark’s Response and Final Decision
As Corcoran was not satisfied with the execution system of the robotic kitchen chef, thus she became the first to drop the deal.
Herjavec highlighted that as there is pre-packaged food available in the market that does not need to be cooked, he can’t be able to invest in it as well.
Lori was next to drop the deal as she was not sure about the product’s adoption by the general masses.
Kevin offered him $500K for a 15% equity stake.
Cuban passed the deal as he was not sure about the technology part of the business.
Assaf counter-offered Kevin $500K for 8% equity in his company, which he readily rejected.
The owner then counter-offered him for the second time of $500K for 8% equity stake, which again Mr. Wonderful disliked.
Finally, Assaf accepted Kevin’s offer of $500K for 15% and left the tank with a shark by his side.
Product’s Availability
After getting a deal on the Shark Tank and teaming up with Kevin seems to have been a smart move for Assaf and his business goals. According to Chafee Robotics’ website, a customer can now pre-order a model and enjoy some exciting perks, like $1K worth of groceries and an early-bird price. Reports also indicate that Chefee could be ready for delivery by Christmas 2024, showing that manufacturing is moving forward.
Assaf’s appearance on Shark Tank and partnership with Kevin marked a huge step forward for Chefee Robotics. By securing $500K for 15% equity, Assaf can move ahead with manufacturing, bringing the world’s first robotic chef closer to homes. The Chefee robotic kitchen chef automates cooking, grocery ordering, meal planning, and nutrition tracking, aiming to simplify meal preparation for families.
Pre-orders are now available on the Chefee Robotics website, and deliveries are expected by Christmas 2024, promising to make this unique and self-automated kitchen solution a reality.
Hey there, it’s Andaleb Youns. I am a freelance content writer and am currently pursuing a BS in English Language and Literature. I have expertise in writing Blog Posts, social media content, and copywriting. I know how it feels to be a student and still be dependent on parents to fulfill even basic daily needs. This realization became apparent while watching Shark Tank. Although I started watching this show out of boredom, it proved to be an inspirational show. The show made me realize the importance of hard work, being independent, and of having a business of my own. I still look forward to it for entertaining and inspirational content.
