Shark Tank US | The Sharks Are HUNGRY for Chefee Robotics Product

Summary

In the pitch for Cheffy Robotics on Shark Tank, Assaf presents a robotic chef that automates meal planning, cooking, and grocery ordering. Seeking $500,000 for 4% equity, he demonstrates the system's capabilities, which include dispensing, weighing, and cooking meals. The sharks are impressed by the technology but express concerns about market fit, execution, and maintenance. Kevin O'Leary ultimately offers $500,000 for 15% equity, which Assaf counters down to 12.5%, leading to a deal. The product targets high-end kitchens, with costs ranging from $9,500 to $50,000 depending on the version.

Takeaways

• 🤖 Assaf is seeking $500,000 for 4% equity in his company, Cheffy Robotics, which aims to bring robotic chefs into homes.
• 🍽️ Cheffy is a robotic system that handles meal planning, cooking, and even grocery ordering, automating the kitchen experience.
• 🍛 The robotic chef can prepare various dishes like Spanish paella, spicy ratatouille, and tofu tikka masala, which were demonstrated live.
• 🛠️ Cheffy integrates with an app for customization, including ingredient selection, portion control, and scheduling meals.
• 💰 The initial price for Cheffy is around $9,500 for a basic version, while a premium model could cost between $40,000 to $50,000.
• 📦 The company has not yet launched but has a $500,000 Letter of Intent (LOI) from a kitchen remodeling company and has installed three prototypes.
• 🔧 The robots are built with off-the-shelf components, but Assaf insists that Cheffy is an original robotics company with patents pending.
• 📈 Assaf aims to raise more funds to move into manufacturing, with a current cost of around $1,500 for materials and $1,000 for labor per unit.
• 🛠️ Kevin O'Leary (Mr. Wonderful) offers $500,000 for 15% equity, eventually agreeing to a deal at 12.5%, focusing on licensing opportunities.
• 👨‍🍳 Assaf believes Kevin is the perfect match due to his connections and strategic insight, while other sharks felt uncertain about the market fit and maintenance challenges.

Q & A

What is the name of the company Assaf is raising funds for?

The company Assaf is raising funds for is called Cheffy Robotics.

What problem does Cheffy Robotics aim to solve?

Cheffy Robotics aims to solve the problem of cooking healthy, fresh meals while managing a busy lifestyle, targeting parents who care about nutrition but may lack time or skills to cook.

What is unique about Cheffy's product?

Cheffy's product is an embedded robotic chef that handles meal planning, cooking, tracking nutrition, and even ordering groceries, making the cooking process extremely easy and automated.

How much equity is Assaf offering in exchange for the $500,000 investment?

Assaf is offering 4% equity in Cheffy Robotics for the $500,000 investment.

What are the customization options available with Cheffy's robotic chef?

Cheffy's robotic chef allows users to customize recipes based on ingredients, adjust the number of servings, and even schedule cooking times through the Cheffy app.

What is the cost range for the Cheffy robotic chef system?

The cost for the Cheffy robotic chef system ranges from $9,500 for the value-engineered version to a premium version priced between $40,000 and $50,000.

How does Cheffy handle the integration with existing kitchen appliances?

Cheffy is designed to integrate with existing kitchen appliances, such as induction cookers, without reinventing the wheel, focusing on creating a robotic ecosystem that automates kitchen tasks.

What is the status of Cheffy Robotics in terms of sales and revenue?

At the time of the pitch, Cheffy Robotics is pre-revenue and has not yet launched the product to the market.

What is the maintenance plan for Cheffy's robotic chef?

The maintenance plan for Cheffy's robotic chef is not explicitly detailed in the script, but it suggests that the system is designed to be easily maintained, potentially leveraging existing plumbing and handyman services.

What is the relationship between Cheffy Robotics and high-end kitchen appliance companies?

Cheffy Robotics has presented their product to high-end kitchen appliance companies like Wolf and Sub-Zero, and they are open to strategic partnerships, licensing, or rebranding opportunities with such companies.

What was the final deal struck between Assaf and the sharks?

The final deal was made with Kevin O'Leary, who offered $500,000 for 15% equity in Cheffy Robotics.