After a hustle-filled routine, who wants nutritious food warmly served? Of course, everyone. Assaf Pashut, CEO of Chefee Robotics, came to Shark Tank Season 15, Episode 17 with a fully automated chef.
This robotic machine will prepare, cook, and prepare the tasty food for you after placing the order. He demanded $500,000 for a 4% stake. Did the entrepreneur get a deal on Shark Tank? Check out our Chefee Robotics update to find out!
Chefee Robotics Net Worth 2024
Assaf Pashut asked for a $500k investment in exchange for 4% equity in his company. This meant he valued his company at $12.5 million. He made a deal with Kevin O’Leary for $500k in exchange for 15% equity. This new deal valued his company at $3.33 million. For a quick Chefee Robotics update, after the show aired, Chefee Robotics saw a big increase in website traffic and social media exposure. With an estimated 10% yearly growth rate (typical business growth), the current net worth of Chefee Robotics in 2024 is about $4.43 million.
Chefee Robotics Shark Tank Update
What Happened to Chefee Robotics After Shark Tank?
Chefee is still advertising the product, which will be delivered on Christmas 2024. The social media handlers regularly post the progress of the Chefee. Keep reading our Chefee Robotics update to see what happens next!
Did Chefee Robotics get a deal at Shark Tank?
Yes, the deal was sealed with Kevin O’Leary—the agreement was done with $500,000 with 15% equity. After a series of offers and counteroffers, the deal was done. Check what went wrong that an impressive pitch made all Four Sharks step out.
| Shark(s) name | Offer | Demand | Counteroffer | Accepted? |
| Barbara Corcoran | Out | N/A | N/A | No |
| Lori Greiner | Out | N/A | N/A | No |
| Kevin O’Leary | $500,000 | 4% equity | $500,000 with 15% equity | Yes |
| Robert Herjavec | Out | N/A | N/A | No |
| Mark Cuban | Out | N/A | N/A | No |
Founders and Their Backstory
Although Sharks didn’t inquire about the founder, we did our research. Assaf Pashut has acquired academic degrees in neurobiology and business administration. He has prior experience as CEO/CTO at another robotics company named 7D Robotics.
He is the brain behind the Flying Falafel. This earth culinary spread the warm meals across the Silicon Valley. The food chain was located in the San Francisco Bay Area. But it was struck hard by the COVID pandemic. This results in the closure of the restaurants. In 2021, Assaf founded the Chefee Robotics.
Initial Pitch
Assaf begins his pitch with an introduction. He explained how busy life made us too tired to cook nutritious food for ourselves. So he introduced his robotic cook, Chefee. This automated machinery will make healthy food and meal plans for you, along with doing grocery planning.
Assaf then explains the workings of the Chefee. Restock the ingredients in Chefee’s inventory, use Chefee’s app to place an order, and sit until your meal gets cooked. Assaf closed the pitch by encouraging the Sharks to invest in his automated chef. Sharks were interested and asked for a demo.
Queries about the Product
Assaf provided three different platter samples to the Sharks. Sharks were impressed with the taste. Assaf further explains that spices can be customized to avoid allergic ingredients. Kevin emphasizes the working of the Chefee. Assaf placed the order. The dish is ready within minutes, and the Chefee uncovers and uncovers the cooked platter. Assaf further explained about the machinery of the Chefee.
He explained that CHefee has two main sections. The upper section is like a standard kitchen cabinet with ingredients, on the right section for dried and preserved items and on the left for the refrigerator items. The grocery can be purchased subscription-based via Instacart or Amazon Fresh. Meanwhile, Chefee prepared another meal. Mark thinks it’s a vending machine with a cooker stove.
Kevin inquired about the cost of the product and the other expenses, including installation and maintenance bills. Assaf responded that the cost of Chefee without a refrigerator part is $10,000, and with a refrigerator, it is $40,000 to $50,000. Robert inquired about the price, including the refrigerator part, and the difference between them. Assaf stated that the refrigerator part will have more room for more ingredients.
Kevin, as usual, was curious about the numbers and sales. He bombarded the queries on Assaf as total sales, the cost of each unit, and target sales numbers. Assaf informed the Sharks that they were in the pre-seed stage. He continued that the company is under LOI with Ohim Kitch and Modeling Company for $500,000. The product is marketed on their website and social media handlers.
Mark is suspicious that this intelligent robot still needs to be used instead. Assaf said it had been installed thrice – once in an investor’s home, once at HQ, and once at the Shark Tank stage. Mark became suspicious, so he asked Assaf to know more. To this, he stated that that’s the reason why he is here – to raise money.
Robert informed me about the raised find thill now. Assaf declared that $450,000 with $90,000 of his own. He further inquired about the cost of manufacturing each unit. He responded with $1500 in materials and $1000 in workforce. Mark stated Assaf is not a robotic company but an integrator. To which he accepted. Next, Kevin went on with his queries like a customer.
He proposed that he purchase one and install it in his Miami house. In case of any malfunction, who will handle the issue, Assaf? Responded that any task handler platform can be contacted to hold this issue. This situation made Mark groan in despair.
Shark Responses and Final Deal
As for Chefee Robotics update, Barbara was the first Shark to step back. At first, she was impressed, and then, as things turned out, she believed she could trust it, so she stepped out. Robert was impressed by the innovation but didn’t see the future of this robotics, so he stepped out, too. Next, Lori inquired Assaf about the product adaptability in the future market. So she also stepped out.
Kevin expressed his interest in the product as he likes the sub-zero product. He showed concern about the no-maintenance policy, But he jumped in with an offer. His offer was $500,000 with 15% equity. In the end, Mark stepped out as he considered it integration but not robotic implementation. Assaf reconsidered his offer of $500,000 with 8% equity. But Kevin refused. He reviewed 12% but still needed help. And then Assaf gave in, and they got a deal done.
What went wrong with Chefee Robotics at Shark Tank?
From our Chefee Robotics research, the product needed to be more branding than actual work. As the company is still diverting, the trust factor is quite low. That’s the same reason why Shark stepped out.
Chefee Robotics Availability
Regarding Chefee Robotics update, you have to wait till Christmas 2024. The company offers three models. The base model is $17,995. The advance unit is for $35,995. The premium unit is for $58,995. It consists of an integrated refrigerator section with an installation. Each model has a list of features on Chefee’s website, and the product is available in four different colors.
Conclusion
Assaf introduces an intelligent kitsch chef, which automates your predefined order. Sharks were astonished with the idea. But as the pitch was unveiled, Sharks walked down the path where they had their own reasons to step out, except for Kevin. After a series of back-and-forth offer counters, the deal was sold. The deal was done for $500,000 for 15% equity.
Hello everyone, I’m Sara Javed. I’m an IT professional expert with project management and design skills. Besides writing, I love playing video games, designing digital art, and reading books. I love Shark Tank due to its innovative business idea and unpredicted reactions of Sharks. This keeps me glued to the screens to watch the next catchy moment. Read more About me.