Elementaree

Elementaree operates within the Russian food-tech market, specializing in the delivery of meal kits. The company was founded in 2013 by Olga Zinovieva and Silard Bushka, both graduates of Harvard Business School. The business concept emerged from Zinovieva's personal need to prepare fresh, varied meals for a loved one without the time-consuming processes of shopping and ingredient preparation. This personal experience, combined with her background as a business consultant, led to a model focused on efficiency, providing customers with pre-portioned and prepped ingredients to cook meals in approximately 15 minutes.

The company's primary offering is a subscription-based service delivering meal kits that cover various eating occasions, including breakfast, lunch, and dinner. Clients can customize their orders based on the number of meals and portions required. The service is designed to appeal to busy individuals and families in Moscow and the surrounding region who want to eat home-cooked, restaurant-quality food without significant effort. The business generates revenue through the direct sale of these meal kits to consumers. A key feature is that all ingredients are washed, chopped, and measured, with accompanying sauces and broths prepared, significantly reducing cooking time for the end-user.

Elementaree has navigated several funding rounds to fuel its growth. After an initial $200,000 from American investors in 2014, the company secured subsequent investments, including $300,000 in 2015 and $500,000 in 2016. A more substantial $2 million was raised in 2017, followed by a major $5 million round in 2020 involving prominent investors like the Russian Direct Investment Fund (RDIF) and the French vegetable giant Bonduelle. In 2021, the head of Rusagro, Maxim Basov, became a significant shareholder after acquiring a stake of over 15% from Skolkovo Ventures. Demonstrating its market consolidation strategy, Elementaree acquired a competitor, "Taste for Home," in September 2023.

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