Genie

Company Overview

Snapshot

Founded in December 2010 by Ayelet Carasso, Dan Ariely, and Doron Marco, Genie operated with 11–50 employees. The company raised $10 million across one funding round. In April 2018, Genie secured funding from Carl Marks & Co.

Business overview

Genie developed an automated cooking system centered around a single-serving, pod-based device. This robotic cooking system utilizes patented artificial intelligence and machine learning to prepare meals rapidly, offering over 30 menu items including breakfasts, soups, pasta, and baked treats. The meal pods contain freeze-dried ingredients as well as raw components like herbs and spices. Genie operates within the Agriculture & Food Technologies sector, specifically targeting Food Tech and Novel Food & Ingredients markets, serving consumers with B2C and B2B2C business models.

Strategic signal

In April 2022, Genie ceased operations, indicating a significant shift in its market presence and strategic direction. This cessation of activity suggests that despite its innovative approach to automated cooking and prior funding, the company encountered challenges that led to its closure, signaling a potential re-evaluation of the viability of its business model or market fit for investors in the automated food preparation sector.

Company Intelligence Q&A

What is Genie's primary offering?

Genie developed an automated cooking system that uses a single-serving, pod-based device. This system leverages artificial intelligence and machine learning to prepare meals in minutes, offering a variety of dishes from freeze-dried and raw ingredients.

When was Genie founded and by whom?

Genie was founded in December 2010 by Ayelet Carasso, Dan Ariely, and Doron Marco.

What was the company's status as of April 2022?

As of April 2022, Genie ceased to operate and is considered non-active.

Which investor participated in Genie's funding round?

In April 2018, Genie received $10 million in funding from Carl Marks & Co.

When did Genie launch its all-in-one cooking appliance and meal system in the U.S.?

In June 2019, Genie launched its all-in-one cooking appliance and meal system in the U.S.