The company behind the world’s first AI-powered robot kitchen assistant has announced its debut funding round in the UK in what could be a pivotal step in its quest to get the concept established with restaurant chains here.
Miso Robotics – the US creator of the Flippy robot – is aiming to raise £24m via Crowdcube to support its expansion into Europe.
The company has previously raised more than $17m (£13m) in funding rounds in the US, following a valuation of over £64m in 2019.
Flippy, which cooks burgers, fries and chicken, can learn from its surroundings and acquire new skills and is already deployed in the US market at CaliBurger restaurants and iconic venues such as the Dodger Stadium in Los Angeles through Levy Restaurants, part of Compass Group.
This week, Miso Robotics announced that US fast food chain White Castle will deploy Flippy in order to modernise its operations.
The fundraising comes at a time when QSRs are having to work even harder to build resilient operations that offer safer working environments as they reopen following the Covid-19 pandemic.
Miso insists robots like Flippy can be a key piece of the puzzle and future fast food experience, particularly as it is offering the technology on a subscription service basis to make it more affordable.
It claims mundane tasks can be completed quickly, while increasing profit margins – citing customers in the US that have projected profit margin increases of approximately 300% from deploying the technology.
“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,” stated 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. Crowdfunding means that everyone has the opportunity to invest and be part of this emerging and exciting sector.”
Miso hopes the low barrier to entry and £10 minimum investment will make the opportunity attractive to potential investors.