Shark Tank Chefee Robotic, a robotic personal chef for the home founded by Assaf Pashut, entered Shark Tank USA on March 8th, 2024 on Season 15. The founder was seeking $500,000 for 4% equity. However, he secured a deal with Kevin O’Leary, $500,000 for 15% equity. In this article, we will explore Chefee Robotic Net Worth in 2024, its Shark Tank pitch summary, and more.
Chefee Robotic Net Worth
According to the Shark Tank pitch, Chefee Robotic’s net worth is $3.33 million as of March 2024, and its annual revenue is $10.9 million.
| Net worth | $3.33 million |
| Annual Sales Revenue | $10.9 million |
| Profits | Not Available |
| Lifetime sales | Not Available |
| Employees | 6 employees |
Chefee Robotic Net Worth Timeline
| Net Worth 2024 | $3.33 million (Business valuation after Shark Tank) |
Shark Tank Chefee Robotic Update from Season 15
Assaf Pashut entered Shark Tank seeking $500,000 for a 4% stake valuing at $12.5 million. He showcased a fully automated chef on Shark Tank Season 15, Episode 17.
Assaf started his pitch by addressing the challenges of modern life, emphasizing how busy schedules often lead to neglecting healthy cooking. He introduced Chefee, the robotic chef designed to alleviate this issue. Chefee not only prepares nutritious meals but also creates customized meal plans and manages grocery shopping. Weekly, you replenish the ingredients and utilize the Chefee app to submit your order, leaving the rest to Chefee.
Chefee consists of two main parts. One is the upper section, and the other is the lower section. The upper section holds ingredients and fits in a regular kitchen cabinet with the left side being cool and the right side for dry things. The app links with Instacart and Amazon Fresh, which is perfect for users seeking easy meal preparation. However, this product’s starting price for basic models sits at approximately $9,500, with premium editions capping at around $50,000.
Mark thought it was a vending machine equipped with a stove. He asked Assaf about the delay in commencing shipping. Assaf clarified that he requires a $500,000 investment from a shark to initiate manufacturing. Similarly, the entrepreneur aimed to avoid making grand promises without fulfilling them.
Before entering the Shark Tank, he has secured $450,000 from an additional investor and personally invested $90,000 into the company. In terms of cost, the base model is priced at $9,500, with manufacturing expenses of approximately $1,500 for materials and $1,000 for labor. Barbara Corcoran decides not to invest. While she acknowledges the concept’s potential, she expressed doubts about trusting its execution.
Robert Herjavec thought there were cheaper meal preparation options than what Assaf offers. Therefore, he decided not to invest. Lori Greiner believed the product wouldn’t suit the market’s needs. Hence, she also declined the investment.
Mark expressed dissatisfaction with Assaf’s explanations regarding the technology. Consequently, he decided to withdraw from the opportunity. Kevin asked about the product’s cost and associated expenses, such as installation and maintenance. Assaf explained that Chefee costs $10,000 without the refrigerator part and $40,000 to $50,000 with it.
Kevin O’Leary offered Assaf $500,000 for a 15% stake in his business. Assaf proposed 8% equity, which Kevin declined. Assaf then offered 12% equity, but Kevin remained uninterested. Finally, Assaf decided to seize the opportunity and agreed to Kevin’s proposal, which is $500,000 for 15% equity valued at $3.33 million.
| Company Name | Chefee Robotics |
| Founder | Assaf Pashut |
| Business | A robotic machine which makes cooking so easy |
| Episode | Season 15, Episode 17 |
| Asked Deal | $500,000 for 4% equity |
| Final Deal | $500,000 for 15% equity |
| Shark | Kevin O’Leary |
| Business Status | In Business |
| Company Website | Visit Website |
| Headquarter | Austin, Texas, United States |
What Happened to Chefee Robotic after Shark Tank?
As of March 2024, the Chefee Robotic is still in business. Currently, Chefee Robotics hasn’t made money but got $500,000 from a top kitchen remodeling company in Palm Springs California. Reports also indicate that Chefee is set for delivery by Christmas of 2024, suggesting progress in manufacturing. You’ll need to wait until Christmas 2024 to make your purchase.
Chafee offers three models: base, advanced, and premium, priced at $17,995, $35,995, and $58,995, respectively. The premium unit includes an integrated refrigerator section and installation. Each model comes in four different colors. Visit Chefee’s website for detailed features of each model.
Assaf has utilized organic advertising and social media to expand his business. Additionally, he has pitched Chefee to builders, designers, and upscale appliance companies. Among these companies, Wolf Sub Zero showed keen interest, with a top executive expressing enthusiasm for the concept during a meeting with Assaf. Accompanied by attractive perks like $1,000 worth of groceries and early-bird pricing offers as per information from the Chefee Robotics website, customers can now reserve their models.
Chefee Robotic Founder
Assaf Pashut is the founder of Chefee Robotic. The company started in 2021. Assaf embarked on his academic journey in 2002 at Santa Clara University in Business Administration and Management. Also, he studied neurobiology at Technion-Israel Institute, showing a broad educational interest. Afterward, in 2005, he studied Cognitive Science at the University of California.
The story of Chefee Robotics is closely tied to Assaf Pashut’s past ventures. He is the founder and CEO of The Flying Falafel LLC company. Sadly, after faithfully serving The Flying Falafel for 14 years, COVID hit hard, closing the restaurants. However, from this setback, Chefee Robotics emerged, carrying forward Pashut’s culinary vision.
Prior to Chefee Robotics, Pashut established 7D Robotics, focusing on autonomous kitchen design for restaurants. This experience laid the foundation for Chefee’s innovative and compact home chef solution.
Chefee Robotic Achievements and Awards
| Year | Achievements and Awards |
| 2024 | The company was featured on Shark Tank Season 15 and got the deal from Kevin O’Leary |
Conclusion
Shark Tank is a TV show showcasing different business ideas, helping them succeed. Chefee Robotic was one of the ventures featured on the show. They made a deal with Kevin O’Leary, showing that success is possible with the right idea and execution. Now, we eagerly await to see how their success story unfolds in the future.
Before you leave, check out the other company updates in Season 15, Episode 17.
