Chipotle announces investments in startups focusing on kitchen automation, plant-based alternatives

Chipotle announces investments in startups focusing on kitchen automation, plant-based alternatives


Hypen automated kitchen solutions.

Courtesy: Hyphen

Chipotle said Thursday it’s investing in two companies that have the potential to accelerate its growth — one that automates kitchen operations and another that makes plant-based versions of chicken and steak with mushrooms.

The Newport Beach, California-based company said Cultivate Next, its $50 million venture fund, will invest in Hyphen and Meati Foods.

Hyphen uses robotics to automate portioning out bowls and plates without the need for staff, Chipotle said in a release. Hyphen says its technology can make over 350 meals an hour.

The investment comes amid nationwide staffing shortages and is not Chipotle’s first foray into automation investment. Last year, the company invested in Nuro, an automated delivery company, before creating its Cultivate Next fund. And his year, the company piloted Chippy, an autonomous machine that cooks and seasons Chipotle chips.

“Our goal is to drive efficiencies through collaborative robotics that will enable Chipotle’s crew members to focus on other tasks in the restaurant,” Chipotle’s Chief Technology Officer Curt Garner said in a statement sent to CNBC .

Meati Foods, which received the other Cultivate Next investment, uses mushroom root to create plant-based chicken and steak alternatives. With the help of Chipotle’s venture fund, Meati said it secured $150 million in its latest funding round.

Chipotle said in its release that plant-based options have been a priority for its menu in recent years. The company said it has not started the process of validating Meati products for inclusion into its menu.

Chipotle did not specify the dollar amount investments in Hyphen or Meati.



Source

Boeing reports results before the bell. Here’s what to expect
Business

Boeing reports results before the bell. Here’s what to expect

The nose cone of a Boeing 787 being displayed on the tarmac during the Paris Air Show at Le Bourget Airport, outside Paris, June 25, 2023. Nicolas Economou | Nurphoto | Getty Images Boeing is expected to report a smaller second-quarter loss when it reports its earnings Tuesday morning. Investors will also hear from CEO […]

Read More
Paris Hilton’s  million mansion deal helps power LA real estate market
Business

Paris Hilton’s $63 million mansion deal helps power LA real estate market

Agent Nicole Plaxen of The Beverly Hills Estates said she’s holding “constant showings” of this $118 million mansion in Bel Air. Credit: The Beverly Hills Estates A version of this article first appeared in CNBC’s Inside Wealth newsletter with Robert Frank, a weekly guide to the high-net-worth investor and consumer. Sign up to receive future editions, straight […]

Read More
Spirit Airlines to furlough 270 pilots, downgrade more than 100 others as it prepares to cut flights
Business

Spirit Airlines to furlough 270 pilots, downgrade more than 100 others as it prepares to cut flights

A Spirit Airlines Airbus A320 taxis at Los Angeles International Airport after arriving from Boston on September 1, 2024 in Los Angeles, California. Kevin Carter | Getty Images News | Getty Images Spirit Airlines said Monday that it will furlough 270 pilots this fall as the carrier prepares for a smaller off-season schedule to try […]

Read More