France-based cooking video platform provider Chefclub has raised $17m of funding in a round featuring SEB Alliance, a corporate venturing vehicle for kitchen appliance manufacturer SEB, TechCrunch has reported.
Investment platform First Bridge Ventures led the round, which was also backed by venture capital firms Korelya Capital and Algaé Ventures.
Founded in 2016, Chefclub publishes cooking videos on social media platforms such as Facebook and Snapchat. It claims it has 85 million followers across its social media accounts and generates more than 1 billion organic views per month.
The company also produces cooking books, of which it has sold 700,000 to date. It recently launched cooking kits for children and plans to sell consumer-packaged goods in the future.
Chefclub raised $670,000 in 2016 from Global Founders Capital and Kima Ventures, before Algaé Ventures led a $3m series A round in 2017 that also featured Korelya Capital and six angel investors including Michaël Benabou, Daniel Marhely and Dominique Romano.