- First UK funding round and crowdfunding campaign gives retail investors the opportunity to invest in a services sector seeing new impetus for automation
- Sector looking to build back better post pandemic, ensuring more resilient businesses, safer working environments and food production for staff and customers
- Fast-food chains can subscribe to use Flippy the robot in their kitchens, lowering the barriers to entry as prices for robotics continue to fall
- White Castle will deploy Flippy to modernise the US's first fast food chain, marking the 100 year anniversary of the fast-food sector
PASADENA, California, July 15, 2020 /PRNewswire/ -- Miso Robotics, the fast growing startup driving intelligent automation for commercial kitchens, has announced its first funding round in the UK. The services sector is seeing a new impetus for automation as it builds back better post pandemic, ensuring more resilient businesses, safer working environments and food production for staff and customers.
The company has previously raised over $17mm in funding rounds in the US, following a valuation of over £64 million in 2019. The equity crowd funding round is being hosted in collaboration with Crowdcube with the aim of raising over £24 million in new funding worldwide, supporting expansion into Europe. The low barrier to entry and £10 minimum investment means anyone can invest in this exciting sector.
Founded in 2016, Miso Robotics' has drawn attention across the US and internationally for its kitchen assistant Flippy that cooks burgers, fries, and chicken. The world's first autonomous robotic kitchen assistant arm, can learn from its surroundings and acquire new skills and is already deployed across the US market at CaliBurger restaurants and iconic venues like the Dodger Stadium in Los Angeles through Levy Restaurants, part of the UK based Compass Group. This week, Miso Robotics announced that the US's first fast-food hamburger chain White Castle will deploy Flippy in order to modernise its operations.
Heavily impacted by COVID-19, fast-food restaurants are now beginning to reopen, working hard to build resilient operations that offer safer working environments and food production for staff and customers. Robots like Flippy can be a key piece of the puzzle and future fast-food experience, now more affordable than ever and available on a subscription service basis. More than 350,000 robots are estimated to have already been sold to the services sector last year according to the International Federation of Robotics (IFR).
The burger-flipping robot promises a safer and healthier work environment for staff and food production by reducing human to food contact, but also completes mundane tasks quickly, while increasing profit margins. Customers in the US deploying Flippy have projected an increase in profit margins of approximately 300%.
Miso Robotics has also recently announced a partnership with PathSpot and PopID to further advance sterile and safe cooking environments. PathSpot is a hand-scanning device, which can check an employee's hands in two seconds to determine whether pathogens are present, which will be integrated into Flippy. PopID, a face payment platform, attaches to doors to scan and measure the body temperatures of staff, delivery drivers, and guests, and can detect if the person has a fever.
"We are excited to open our first round of funding in the UK, a market where we see huge potential for the growth of the fast food sector and its use of smart technology to improve the experience for both customers and staff," said Buck Jordan, CEO of Miso Robotics. "Technology is going to play a vital role in helping restaurants build back better, from improving health and safety to allowing workers to focus on less mundane roles. Crowd funding means that everyone has the opportunity to invest and be part of this emerging and exciting sector."
"White Castle is an industry innovator, and we take a great amount of pride in our history –never forgetting about the future ahead," said Lisa Ingram, 4th generation family leader and CEO of White Castle. "With 100 years of quick service success, the time has never been more perfect to envision what the next century of White Castle and the restaurant industry looks like. Miso Robotics understood where we could improve and stay true to White Castle's brand of taste, innovation and best-in-class dining. A great customer and employee experience is in our DNA, and we are thrilled to bring the future into our kitchen with solutions that will transform the industry and make the White Castle experience all that it can be for generations to come."
"Automation in fast-food restaurants is becoming a necessity, not a choice," John Miller, Chairman of Cali Group and CEO of PopID. "As consumers return to restaurants with higher expectations, Flippy and health screening technologies like PopID are helping the sector fill staffing gaps and deliver top quality food in the most hygienic way possible."
Invest in the future of intelligence behind the machine, by investing in Miso Robotics today: www.crowdcube.com/misorobotics
About Miso Robotics
Miso Robotics (www.misorobotics.com) is revolutionizing the restaurant and prepared food industries with innovative robotics and artificial intelligence solutions. Miso Robotics was founded with a mission to leverage AI technology to help chefs cook food perfectly and consistently and enable restaurants to increase labor productivity, reduce costs and drive profitability while improving the overall dining experience. Miso Robotics employs a respected team of scientists, roboticists, engineers and industrial designers from Caltech, Cornell, MIT, Carnegie Mellon, Harvey Mudd, UCLA, USC, Art Center and UNC Chapel Hill.