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Press release

May 16, 2019 / BSH Home Appliances Corporation North America

BSH Invests in AI-Based Kitchen Assistant Chefling

• BSH Hausgeräte GmbH acquires a strategic minority stake in Sili-con Valley-based startup Chefling

• The home appliance manufacturer assumes a third of Chefling’s shares

• Funds will be used to enhance Chefling’s existing solutions for personalized recipe guidance, inventory and online grocery shop-ping as well as appliance connectivity

• Strategic partnership brings new capabilities to Home Connect ecosystem

Irvine, Calif., May 15, 2019 (BSH) – As part of BSH’s strategy to provide added value to consumers by linking digital services with home appliances, BSH now becomes a stra-tegic investor in Chefling. Chefling offers smart kitchen solutions based on an artificial intelligence driven platform that seamlessly incorporates inventory organization, per-sonalized recipe suggestions that fit exact dietary needs, budget and taste preferences ‒ and smart device integration to simplify the cooking experience. Together, the two companies will develop seamless, easy-to-use solutions for cooking and grocery man-agement. [...]

A growing number of consumers are turning to apps and smart assistants when it comes to better organize their household. “We see that digitalization offers new opportunities to give consumers the right level of information and support just when they need it,” says Mario Pie-per, Head of the Digital Business Unit at BSH. “With our Hardware+ strategy, we want to offer meaningful support to our consumers in the everyday usage of their appliances. Chefling of-fers digital services that link the entire cooking journey, from inspiration to inventory man-agement, shopping, and cooking. With Chefling’s Artificial Intelligence technology platform, both companies are in a strong position to raise the bar on personalized services and assis-tance in the kitchen.”

Chefling will initially focus on developing new app features and technologies as well as in-creasing its user base and partnerships in its North American home market. BSH funds will be used to further grow its business and to expand product, marketing and technology develop-ment teams in the U.S. and India. As part of the strategic partnership with BSH, Chefling is planning market expansion and will further integrate with BSH products and services.

"This strategic investment will help us to not only bring new features and capabilities to our users, but also to create the end-to-end meal preparation platform of the future," says Jeff Xie, Co-Founder of Chefling. "BSH is a true pioneer in appliance intelligence, and having their backing and partnership provides a valuable advantage for our company."

With this investment in Chefling, BSH continues its partnering strategy to develop digital ser-vice offerings, which bring new value to the Home Connect ecosystem. In 2017, BSH an-nounced the acquisition of a majority stake in the Berlin startup Kitchen Stories, which offers high-quality recipe inspiration and step-by-step guidance, photos, and videos. These invest-ments further strengthen BSH’s position to become the leading provider of connected hard-ware and digital services in the home appliance industry.

You can find additional press materials in the BSH Newsroom at https://www.bsh-group.com/newsroom/press-releases.

You can also find out the latest news about all aspects of BSH worldwide at https://stories.bsh-group.com/en/.

About BSH Hausgeräte GmbH

BSH Hausgeräte GmbH, with 2018 sales revenues of some EUR 13.4 billion and about 61,000 em-ployees, is a global leader in the home appliance industry. The company’s brand portfolio includes 13 well-known appliance brands like Bosch and Thermador as well as the ecosystem brand Home Connect and service brands like Kitchen Stories. BSH produces at roughly 40 factories, and is rep-resented by about 80 companies in some 50 countries.
BSH is a Bosch Group company.

About Chefling

Chefling, Inc. is headquartered in Silicon Valley and provides the ultimate smart kitchen solution, leveraging an AI-driven platform to seamlessly incorporate inventory organization, intuitive recipe suggestions, shopping list management, and smart device integration to simplify the cooking expe-rience in connected homes. We are driven by our mission to bring a unique kitchen experience to everyone who wants to discover the joy of cooking.

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Contact:

Debbie Ehrman
Finn Partners
310-882-4016
Deborah@finnpartners.com

Lore McKenna
BSH Home Appliances Corporation
949-724-3574
Lore.McKenna@bshg.com

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About BSH:

BSH Hausgeräte GmbH is a globally leading company in the home appliance sector with revenue of approximately € 13.1 billion in 2016 and more than 58,000 employees. BSH manufactures its products at around 40 factories and is represented by over 80 companies in approximately 50 countries.

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