Presto Automation Announces Sale of Assets to Consortium Led by Remus Capital
Presto Automation (PRST) has completed its Article 9 sale process, with assets being acquired by a consortium led by Remus Capital, including Link Ventures and Metropolitan Partners Group. The new private entity, renamed Presto Phoenix, will retain the Presto Voice™ platform, technology, and team.
The consortium has injected $18M in new capital to focus on expanding the company's Voice AI business for drive-thru restaurant chains across America. The company's AI technology automates drive-thru order-taking, improving efficiency, accuracy, and upsell frequency while enhancing customer experience.
Under new CEO Gee Lefevre, Presto Phoenix aims to dominate the QSR Voice AI market with its combination of leading product technology and restaurant industry expertise. The company has also unveiled a refreshed brand identity, including a new logo and website, reflecting its renewed focus on Voice AI technology leadership in drive-thru operations.
Presto Automation (PRST) ha completato il processo di vendita ai sensi dell'Articolo 9, con asset acquisiti da un consorzio guidato da Remus Capital, compresi Link Ventures e Metropolitan Partners Group. La nuova entità privata, rinominata Presto Phoenix, manterrà la piattaforma Presto Voice™, la tecnologia e il team.
Il consorzio ha iniettato 18 milioni di dollari in nuovo capitale per concentrarsi sull'espansione del business Voice AI dell'azienda per le catene di ristoranti drive-thru in tutta America. La tecnologia AI dell'azienda automatizza la presa di ordini al drive-thru, migliorando l'efficienza, l'accuratezza e la frequenza di upsell, offrendo al contempo un'esperienza migliore per il cliente.
Sotto la nuova direzione del CEO Gee Lefevre, Presto Phoenix mira a dominare il mercato Voice AI nel settore QSR grazie alla combinazione di tecnologia di prodotto all'avanguardia e expertise nel settore della ristorazione. L'azienda ha anche presentato una rinnovata identità di marca, inclusi un nuovo logo e un sito web, che riflettono il suo rinnovato focus sulla leadership nella tecnologia Voice AI nelle operazioni drive-thru.
Presto Automation (PRST) ha completado su proceso de venta bajo el Artículo 9, con activos adquiridos por un consorcio liderado por Remus Capital, incluyendo a Link Ventures y Metropolitan Partners Group. La nueva entidad privada, renombrada como Presto Phoenix, mantendrá la plataforma Presto Voice™, la tecnología y el equipo.
El consorcio ha inyectado $18 millones en nuevo capital para centrarse en expandir el negocio de AI de voz de la empresa para cadenas de restaurantes con servicio en el auto en toda América. La tecnología de AI de la empresa automatiza la toma de pedidos en el drive-thru, mejorando la eficiencia, la precisión y la frecuencia de ventas adicionales, al mismo tiempo que mejora la experiencia del cliente.
Bajo la nueva dirección del CEO Gee Lefevre, Presto Phoenix tiene como objetivo dominar el mercado de AI de voz en el sector QSR con su combinación de tecnología de producto líder y experiencia en la industria de restaurantes. La empresa también ha revelado una identidad de marca renovada, incluyendo un nuevo logotipo y un sitio web, que reflejan su renovado enfoque en el liderazgo de la tecnología AI de voz en las operaciones de drive-thru.
프레스토 오토메이션(PrST)은 레무스 캐피탈이 이끄는 컨소시엄에 의해 자산이 인수되며 제9조의 매각 프로세스를 완료했습니다. 새로운 사기업인 프레스토 피닉스는 프레스토 보이스™ 플랫폼, 기술 및 팀을 유지할 것입니다.
컨소시엄은 1800만 달러의 새로운 자본을 투입하여 미국 전역의 드라이브스루 식당 체인에 대한 음성 AI 비즈니스 확장에 집중할 것입니다. 회사의 AI 기술은 드라이브스루에서의 주문을 자동화하여 효율성, 정확성 및 상향 판매 빈도를 개선하고 고객 경험을 향상시킵니다.
신임 CEO 기 르페브르 아래에서 프레스토 피닉스는 선도적인 제품 기술과 외식 산업 전문성을 결합하여 QSR 음성 AI 시장을 장악할 계획입니다. 또한 회사는 드라이브 스루 운영의 음성 AI 기술 리더십에 대한 새롭게 집중한 비전을 반영하는 새로운 로고와 웹사이트를 포함한 브랜드 아이덴티티를 갱신했습니다.
Presto Automation (PRST) a terminé son processus de vente selon l'article 9, avec des actifs acquis par un consortium dirigé par Remus Capital, incluant Link Ventures et Metropolitan Partners Group. La nouvelle entité privée, renommée Presto Phoenix, conservera la plateforme Presto Voice™, la technologie et l'équipe.
Le consortium a injecté 18 millions de dollars de nouveau capital pour se concentrer sur l'expansion de l'activité Voice AI de l'entreprise pour les chaînes de restaurants en drive-thru à travers l'Amérique. La technologie IA de l'entreprise automatise la prise de commandes au drive-thru, améliorant l'efficacité, la précision et la fréquence des ventes additionnelles tout en enrichissant l'expérience client.
Sous la direction du nouveau PDG Gee Lefevre, Presto Phoenix vise à dominer le marché de l'IA vocale QSR grâce à sa combinaison de technologie produit de pointe et d'expertise dans l'industrie de la restauration. L'entreprise a également dévoilé une identité de marque rafraîchie, comprenant un nouveau logo et un site Web, reflétant son nouvel accent sur le leadership technologique en IA vocale dans les opérations de drive-thru.
Presto Automation (PRST) hat seinen Verkaufsprozess gemäß Artikel 9 abgeschlossen, wobei Vermögenswerte von einem Konsortium unter der Leitung von Remus Capital erworben wurden, einschließlich Link Ventures und Metropolitan Partners Group. Die neue private Einheit, umbenannt in Presto Phoenix, wird die Presto Voice™-Plattform, Technologie und das Team behalten.
Das Konsortium hat 18 Millionen Dollar an neuem Kapital investiert, um sich auf die Expansion des Voice AI-Geschäfts des Unternehmens für Drive-Thru-Restaurantketten in ganz Amerika zu konzentrieren. Die KI-Technologie des Unternehmens automatisiert die Auftragsaufnahme am Drive-Thru, verbessert die Effizienz, Genauigkeit und Upselling-Häufigkeit und verbessert gleichzeitig das Kundenerlebnis.
Unter der neuen CEO Gee Lefevre strebt Presto Phoenix an, den Markt für QSR Voice AI mit seiner Kombination aus führender Produkttechnologie und Expertise in der Restaurantbranche zu dominieren. Das Unternehmen hat außerdem eine erneuerte Markenidentität vorgestellt, einschließlich eines neuen Logos und einer neuen Website, die den erneuerten Fokus auf die Führungsrolle in der Voice AI-Technologie in Drive-Thru-Operationen widerspiegeln.
- Secured $18M new capital injection from investors
- Successful acquisition by well-funded consortium ensures business continuity
- Transition to private structure provides more operational flexibility
- Retained core Voice AI technology, platform, and team
- Company underwent Article 9 sale process, indicating previous financial distress
- Complete ownership change may affect existing business relationships
New business fully capitalized to expand Drive-Thru Voice AI leadership
SAN CARLOS, Calif., Jan. 07, 2025 (GLOBE NEWSWIRE) -- Presto Automation (“PRST”), a leading provider of AI-driven solutions for the quick-service restaurant (QSR) industry, today announced the conclusion of its Article 9 sale process and the successful auction results from December 3, 2024 of the Presto Automation business. Remus Capital led a group of investors including Link Ventures and PRST’s prior lender, Metropolitan Partners Group, to acquire the assets of PRST. The new entity will be called Presto Phoenix (“Presto” or the “Company”). The Company will be a private entity that will retain the entirety of the Presto Voice™ platform, technology, and team. With an injection of
“We are excited to begin this new chapter,” said Gee Lefevre, CEO of Presto. “The transition to a private company with a sustainable capital structure and the influx of new capital gives us the flexibility to accelerate our growth. We intend to win the QSR Voice AI market, given we’re the only player combining a market-leading product with deep restaurant industry expertise, and doing so with several expanding customers. We believe every drive-thru chain in America can benefit from the magic of Presto's AI in 2025.”
Presto Voice leverages custom Voice AI technology to automate order-taking in drive-thrus, improving efficiency and accuracy while enhancing the overall customer experience. The AI voice assistant helps staff avoid excessive multi-tasking so they can focus on more important tasks. It also improves upsell frequency and consistency, which results in larger check sizes.
Krishna Gupta, CEO of Remus Capital, commented, “Remus is focused on Vertical Voice AI solutions, so I'm very excited that our consortium purchased PRST’s assets. We have acquired a home-grown AI product and team that are both best-in-class. Our new company will now be the largest American drive-thru Voice AI company as well as the best capitalized business in our market. As Presto starts fresh, we ask all our current and future customers, partners, and investors: what can we get for you today?”
As part of Presto’s new chapter, the Company unveiled a refreshed brand identity, including a modernized logo and a new website. These changes reflect Presto’s renewed purpose and ambition to lead the QSR market in Voice AI technology for drive-thru operations. The updated brand design signifies the Company’s momentum and focus on delivering a magical customer experience as it continues to expand its innovative platform.
About Presto Phoenix, Inc.
Founded on December 3rd, 2024, Presto Phoenix acquired certain assets from Presto Automation to deliver enterprise-grade AI and automation solutions to the restaurant industry. Under new ownership and properly capitalized, Presto’s solutions are designed to decrease labor costs, improve staff productivity, increase revenue, and enhance the guest experience. Presto offers its AI solution, Presto Voice™, to quick-service restaurants (QSR) and counts some of the most recognized restaurant names in the United States as customers.
About Remus Capital
Remus Capital is an early stage venture capital firm that partners with entrepreneurs applying the latest advances in AI to transform the largest industries in the world. Founded in an MIT dorm room, Remus is a firm built by rebels for rebels who think big. Remus has helped build - not just bet on - several successful companies over the last 15 years.
About Metropolitan Partners Group
Founded in 2008, Metropolitan Partners Group is a private investment firm that provides growth capital to non-sponsored businesses in the domestic lower middle market space, unconstrained by industry or asset class. The firm works directly with business owners and management teams to grow their balance sheets and build lasting value while aiming to provide downside protection to its investors. Metropolitan has deployed more than
Contacts
Investors: investor@presto.com
Media: prestopr@icrinc.com
FAQ
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