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AddVenture to help Chefmarket expand throughout Russia

0 6 December 2013

Culinary service “Chefmarket” are currently only available in the Moscow region, but are planning to expand their service to the whole of Russia. Managers of the company are looking for potential partners to run franchises in other cities. Investment fund AddVenture are serving as the financial basis for Chefmarket’s expansion. The amount invested has not yet been disclosed.

According to Sergey Ashin, founder of Chefmarket, their project falls under the new developing trend of home cooking. Monthly numbers of orders from the website, launched in 2012, have been growing at a rate of 20-30% per month. Customers can choose from hundreds of recipes and will receive instructions and ingredients to make the dish within 3-4 hours after placing the order. Chefmarket does the “dirty work” for the consumer by purchasing the ingredients from certified suppliers, cleaning fish, processing meat and washing the vegetables. This reduces the time of cooking a dish by 20-30 minutes.

Food sector e-commerce is gaining momentum in the US. Only last year, Silicon Valley investment fund invested $350 million into such projects. This amount is seven times more than 5 years ago.

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