Heliad AG: Heliad AG leads seven figure Pre-Series A round of Berlin-based
ChefCoco

EQS-News: Heliad AG / Key word(s): Investment
Heliad AG: Heliad AG leads seven figure Pre-Series A round of Berlin-based
ChefCoco

11.04.2024 / 13:58 CET/CEST
The issuer is solely responsible for the content of this announcement.

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Heliad AG leads seven figure Pre-Series A round of Berlin-based ChefCoco as
it nears profitability

  * ChefCoco, one of the largest corporate meal services providers in Berlin
    has raised a seven figure round of financing led by Heliad AG and
    existing investors

  * ChefCoco's unique approach in building and operating a central
    industrial scale production kitchen has helped it gain a quality and
    cost advantage in a highly competitive market

  * Winning contracts from peers and operating with 100% retention has
    allowed it to scale operations and is on track to reach profitability in
    the coming months

  * ChefCoco's production advantages set the stage to enter new distribution
    verticals

Frankfurt am Main, Thursday 11th of April 2024 - Heliad AG (Stock ticker
A7A, ISIN DE0001218063) leads ChefCoco's seven figure Pre-Series A round,
partnering up with founder & CEO Shaminder Dhillon and his team of domain
experts on their ambitious mission to serve meals to every table, every day,
starting with offices. Existing investors joined the new financing round,
including Atlantic FoodLabs and several renowned German business angels such
as SB21 and Planetly founder Benedikt Franke.

Smart solution to a well-known problem - ChefCoco is closing the increasing
gap between healthy, convenient and affordable meals for companies.
Employees enjoy a wide selection of meals, freshly cooked by
Michelin-trained staff which can be ordered through the ChefCoco app. The
company has built its own industrial scale production kitchen, already one
of the largest in Berlin and set-up a modular approach to further scale
production capabilities. This gives the team both a cost advantage in
production as well as in being able to procure high quality ingredients in
bulk at discounted prices. All meals are delivered in its branded reusable
containers which are picked up and dropped off daily. This approach also
sets a new level of sustainability by cutting packaging or food waste.

Self-propelled distribution - ChefCoco's approach has made substantial
ground in the past six months to now become the leading provider of
corporate meal services in Berlin, winning clients from peers and operating
with 100% retention. ChefCoco is setting a new standard against conventional
solutions with a flexible and nutrition-informative offer. The company's
partnership strategy including meal subsidization drives high customer
engagement, with the average employee ordering multiple times per week. This
not only fosters exceptional word-of-mouth promotion but also strengthens
the product-led growth model, resulting in above-average levels of customer
loyalty.

Exceptional business case - The market opportunity that ChefCoco is
addressing is significant. The market for ready-to-eat meals, globally a USD
750bn+ market, presents immense growth opportunities. ChefCoco's blend of
quality, sustainability, and affordability positions the company uniquely in
this growing market. Above all, its capital-efficient model forms the basis
for its above-average unit economics. Fuelled by its exponentially growing
customer base, economies of scale will make scaling particularly attractive.

Strong and complementary founding team - The executive team's diverse
backgrounds ranging from large international corporations to diverse
startups and ultimately Michelin-starred restaurants combines strong
expertise in operations, upscaling and culinary cuisine. The passionate
vision of the Australian founder Shaminder Dhillon and his team to innovate
food delivery further strengthens our confidence in the capability to scale
the business model, further expand revenues and become a major player in the
respective field to serve millions of office lunches every day in the
future. This collective experience is a source of our strong belief and we
are excited to back this team in setting new industry standards.

About ChefCoco

The ready-to-eat meal provider, ChefCoco, was founded in 2021 in Berlin by
experienced culinary and business experts to revolutionize the FoodTech
industry. The company currently offers a corporate meal delivery service,
enabling customers to experience flexible healthy meals and save cooking
time. Thereby closing the gap between traditional food delivery and meal
kits, providing affordable, healthy, and convenient meals. ChefCoco
streamlines the food-ordering experience with their self-developed
application, enabling users to effortlessly personalize their weekly menu,
adjust their health and taste preferences, or skip a meal. Visit their
website and Instagram for more information.

Contact
wololo GmbH
E-Mail: hello@chefcoco.com

About Heliad

Heliad (Stock ticker A7A, ISIN DE0001218063) is a listed investment company
with a mission to empower both entrepreneurs and investors. The company
invests in market leading companies across various verticals and regions to
power their next phase of growth. As a listed company and through our strong
team and strategic partners, Heliad can support companies pre, at and post
IPO and act as a gateway to public equity capital markets. An evergreen
structure allows Heliad to act independently of usual fund lifecycles and
provides shareholders with unique access to pre-IPO market returns without
any restrictions or limitations in terms of investment size and term
commitment. For more information about Heliad, please visit www.heliad.com
and follow on LinkedIn to stay updated.

Contact

Heliad AG
Tel: +49 69 719 12 80 00
E-Mail: investor-relations@heliad.com


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   Language:       English
   Company:        Heliad AG
                   Ulmenstraße 37-39
                   60325 Frankfurt/Main
                   Germany
   Phone:          +49 (0)69 719 12 80 - 00
   Fax:            +49 (0)69 719 12 80 - 999
   E-mail:         investor-relations@heliad.com
   Internet:       www.heliad.com
   ISIN:           DE0001218063
   WKN:            121806
   Indices:        Basic Board
   Listed:         Regulated Unofficial Market in Berlin, Dusseldorf,
                   Frankfurt (Basic Board), Hamburg, Munich, Stuttgart,
                   Tradegate Exchange
   EQS News ID:    1878727

End of News EQS News Service
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1878727 11.04.2024 CET/CEST