An email has been sent to your address with instructions for changing your password.
There is no user registered with this email.
Sign Up
To create a free account, please fill out the form below.
Thank you for signing up!
A confirmation email has been sent to your email address. Please check your email and follow the instructions in the message to complete the registration process. If you do not receive the email, please check your spam folder or contact us for assistance.
Welcome to our platform!
Oops!
Something went wrong while trying to create your new account. Please try again and if the problem persist, Email Us to receive support.
Chipotle Mexican Grill Makes Strategic Investment in Hyphen, A Food Robotics Company
Rhea-AI Impact
(Neutral)
Rhea-AI Sentiment
(Neutral)
Tags
Rhea-AI Summary
Chipotle Mexican Grill (NYSE: CMG) has made a strategic investment in Hyphen, a foodservice automation company, through its Cultivate Next venture fund, contributing $50 million. This funding will enhance Hyphen's R&D efforts, accelerate hiring, and improve field support capabilities. Hyphen's technology focuses on automating meal production, significantly increasing efficiency by producing over 350 meals an hour while minimizing order defects. This collaboration aims to leverage robotics to enhance restaurant operations and improve customer experience.
Positive
Chipotle's $50 million investment supports Hyphen's research and development.
Hyphen's technology automates meal production, potentially increasing efficiency and profitability for Chipotle.
The investment may enhance Chipotle's operational capabilities and customer service quality.
Negative
None.
Additional investors include Tiger Global and existing strategics who backed Hyphen’s Series A financing earlier this year
SAN JOSE, Calif.--(BUSINESS WIRE)--
Hyphen, a foodservice company that automates meal production and augments labor with its Makeline and KitchenOS, today announced a strategic investment from Chipotle Mexican Grill (NYSE: CMG) via its Cultivate Next venture fund. Tiger Global and existing strategic investors also participated in the financing. Chipotle’s investment in Hyphen will fuel R&D, accelerate hiring plans, and expand Hyphen’s field support capabilities.
Chipotle’s $50 million Cultivate Next fund was designed for strategic investments in companies looking to create meaningful improvements at scale, and Cultivate A Better World. This aligns well with Hyphen’s mission and focus, which starts with its automated makeline. Hyphen’s makeline assembles meals in seconds, plates perfectly, and portions accurately so customers get their food fresh, fast, and consistent. Hyphen’s KitchenOS allows chefs to develop recipes and push new menus to a fleet of restaurants via over-the-air updates.
“Hyphen is reimagining the intersection between makelines and digital kitchens, with a focus on improving speed and order accuracy,” said Curt Garner, Chief Technology Officer at Chipotle. “Their use of robotics to enhance the employee and guest experience aligns with the mission of the Cultivate Next venture fund as it leverages 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 Klein, Co-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.”
About Hyphen
Hyphen automates meal production and augments labor, which increases profitability and efficiency in foodservice. Hyphen’s automated makeline produces over 350 meals an hour while eliminating order defects such as missing ingredients and cross-contamination. Through its KitchenOS, Hyphen’s platform allows restaurants to create recipes in seconds, fulfill multiple orders from digital channels, and put kitchens on autopilot with streamlined workflows and closed-loop feedback from its fully instrumented systems. Customers include some of the world’s most innovative restaurant chains, virtual brands, and co-packers. For more information visit www.usehyphen.com.
About Chipotle
Chipotle Mexican Grill, Inc. (NYSE: CMG) is cultivating a better world by serving responsibly sourced, classically cooked, real food with wholesome ingredients without artificial colors, flavors or preservatives. Chipotle had over 3,000 restaurants as of March 31, 2022, in the United States, Canada, the United Kingdom, France and Germany and is the only restaurant company of its size that owns and operates all its restaurants. Chipotle is ranked on the Fortune 500 and is recognized on the 2022 list for Fortune's Most Admired Companies. With over 100,000 employees passionate about providing a great guest experience, Chipotle is a longtime leader and innovator in the food industry. Chipotle is committed to making its food more accessible to everyone while continuing to be a brand with a demonstrated purpose as it leads the way in digital, technology and sustainable business practices. For more information or to place an order online, visit WWW.CHIPOTLE.COM.
