# MYCHEF

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/mychef

- Industry: Retail
- Headquarters: Seongnam, South Korea
- Website: www.mychef.kr
- Total disclosed funding: $15M
- Latest round: Series B (May 6, 2021)
- Investors on record: 9

## About

Based in Seongnam-si, South Korea, and founded in 2011, MYCHEF manufactures and sells home meal replacement (HMR) products, also known as meal kits, to consumers. Home meal replacements refer to meal kit products that are prepared with ingredients and recipes for the consumer's convenience. Mychef manufactures its own home meal replacement products at its two production facilities each located in Seongnam-si and Gwangju-si, South Korea.

The company sells home meal replacements for different cuisines such as steak, pasta, bulgogi, etc., as well as frozen foods through online and offline channels. It sells its products on its own online shopping mall as well as different morning delivery platforms such as Coupang and Market Kurly. MYCHEF also sells its products as ODM (Original Design Manufacturing) and OEM (Original Equipment Manufacturing) through offline distributors, which include Shinsaegae department store, Hyundai department store, etc. The company's revenue is generated by selling home meal replacement products to consumers.

The majority of the company's revenues are generated from B2C. As of January 2021, MYCHEF is planning to introduce a smart automation production facility in November with the funds that will be raised from Series B.

The company is moving forward with plans for an IPO as a meal kit manufacturer that has entered the morning delivery platform and offline department stores.

## Funding rounds

- Series B, May 6, 2021, $6.3M — Opus Private Equity, AIM Investment
- Series A, Sep 19, 2019, $8.4M — Woori Bank, IBK Capital, Dong Hoon Investment, Korea Credit Guarantee Fund, Mirae Asset Securities, Creation Investment Advisory, AIM Investment, Halla Holdings Corp.

## Investors

- Woori Bank — Series A
- IBK Capital (https://capitalatlas.ai/funds/ibk-capital) — Series A
- Dong Hoon Investment (https://capitalatlas.ai/funds/dong-hoon-investment) — Series A
- Korea Credit Guarantee Fund — Series A
- Mirae Asset Securities (https://capitalatlas.ai/funds/mirae-asset-securities) — Series A
- Creation Investment Advisory (https://capitalatlas.ai/funds/creation-investment-advisory) — Series A
- AIM Investment (https://capitalatlas.ai/funds/aim-investment) — Series A, Series B
- Halla Holdings Corp. — Series A
- Opus Private Equity (https://capitalatlas.ai/funds/opus-private-equity) — Series B