Chernovetskyi Investment Group (CIG), in partnership with other investors, has participated in the latest round of funding for one of India's fastest-growing food-tech companies, InnerChef, as part of CIG's global strategy of expansion into food-tech.
InnerChef is an online food delivery service based in India that provides delicious meals to customers from various international cuisines. From its 12 kitchens across four Indian cities, the company delivers European, Mediterranean and Indian meals to clients. The company controls the entire supply chain for its delivery service, including running independent kitchens and delivery services. In just two years, InnerChef has grown to deliver 75,000 meals per month to its rapidly growing customer base.
InnerChef plans to use the funds raised from CIG and the other investors to accelerate its growth across existing markets (NCR, Bangalore, Mumbai and Hyderabad) and further expand across India.
This is CIG's latest investment in the rapidly growing global food tech sector. The company recently invested in Ukrainian grocery delivery service Zakaz.ua and in Ukraine's leading food delivery service EDA.UA. The latter has recently merged with the leading food delivery player operating in the Baltics, Foodout, creating one of the largest food delivery companies in Eastern Europe, Foodout Group.
The Managing Director of Chernovetskyi Investment Group, and board member of Foodout Group, Volodymyr Kryvko, says,
"Food-tech is an area of huge strategic importance to CIG's investment strategy. Our decision to invest in InnerChef was centred on the company's speedy growth and the fact that, amongst all kitchen in the cloud companies, InnerChef enjoys the highest AOV. We are also interested in the huge potential of the Indian Market."
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About CIG
Chernovetskyi Investment Group (CIG) is one of the largest investment companies in the post-Soviet (CIS) market. Founded in 2013, its investment potential is more than $750 million. CIG has already invested in the following IT companies: Eda.ua, Doc.ua and Zakaz.ua. Zakaz.ua has featured on the programme of Techstars, a world-famous accelerator, in Boston. In 2015, CIG invested $1 million in KIDO'Z (Israel), a platform for children and $1 million to the international online bus ticket booking service Busfor. For further information on the company, please visit our website: http://chernovetskyiinvestments.com