CHIPOTLE INVESTS IN ROBOTIC MAKELINE AND PLANT-BASED PROTEIN VIA ITS NEW VENTURE FUND – QNT Press Release


The Company’s first Cultivate Next venture fund cohort includes Hyphen and Meati Foods

NEWPORT BEACH, Calif., July 21, 2022 /PRNewswire/ — Chipotle Mexican Grill (NYSE:CMG) today announced it is investing in Hyphena foodservice platform designed to help restaurant owners, operators, and budding chefs move their business forward by automating kitchen operations, and Meati Foodsa company focused on using proprietary, clean processes to provide nutritious, complete proteins made from mushroom root, as part of its first cohort for the Cultivate Next venture fund.

Cultivate Next is Chipotle’s $50 million venture fund that intends to make early-stage investments into strategically aligned companies that further its mission to Cultivate a Better World and help accelerate Chipotle’s aggressive growth plans. As a people-first company, Chipotle is seeking opportunities that will elevate the human experience for its teams as well as increase access and convenience for its guests. Investments may include innovations in farming and supply chain, advanced robotics like Hyphen, alternative proteins like Meati, and more.

Hyphen Builds a Link to the Future
Hyphen, based in San Jose, CAbelieves that modern day kitchens need to move faster without sacrificing quality, accuracy, or hospitality. The company’s first product, The Makelineis an automated system that utilizes advanced robotics and a customized operating system to give busy kitchens a reliable and precise way to make and fulfill orders. The Makeline assembles all digital orders under the counter via automated production while allowing staff to assemble in-house orders from the top of the counter.

“Hyphen is reimagining the intersection between makelines and digital kitchens, with a focus on improving speed and order accuracy,” said Curt GarnerChief Technology Officer at Chipotle. “Their use of robotics to enhance the employee and guest experience to find efficiencies in the restaurant industry aligns with our mission of leveraging emerging technology to increase access to real food.”

“Chipotle’s investment in Hyphen will accelerate our hiring plans; allowing us to invest more heavily in R&D, all while providing the necessary infrastructure to scale sustainably,” said Stephen KleinCo-founder and CEO of Hyphen. “We’re thrilled to work with Chipotle to find more innovative solutions by removing repetitive tasks from the employee experience so they can focus on creating delicious dishes and providing outstanding hospitality.”

With its aggressive goal of growing to 7,000 restaurants in

Full story available on Benzinga.com



Source link

Recommended For You

About the Author: News Center