|
|
|
You can get e-magazine links on WhatsApp. Click here
|
|
|
|
|
|
Chipotle's cultivate next fund invests in AI supply chain solution & emerging fast-casual concept
|
|
Wednesday, 23 October, 2024, 08 : 00 AM [IST]
|
|
California, USA
|
Chipotle Mexican Grill, announced it is making a minority investment in Lumachain, an AI supply chain platform, and Brassica, a fast-casual restaurant concept, through its $100 million Cultivate Next venture fund. Introduced in 2022, it makes early-stage investments into strategically aligned companies that further the company's mission to ‘Cultivate a Better World’ and help accelerate the company's longer term growth plans to operate 7,000 restaurants in North America.
Headquartered in Sydney, Australia, its mission is to improve how food is produced, for good. The minority female-founded company has developed a traceability solution that, in real-time, tracks the origin, location, and condition of individual items in a supply chain, from farm to table, enabling reduced waste and increased efficiency. Its traceability platform is complemented by its Computer Vision AI platform that monitors operations inside food production plants, to improve quality, efficiency and safety.
Curt Garner, chief customer and technology officer, Chipotle, said, "The visibility in real time and quality data analytics that Lumachain's software provides could optimize the management and quality of perishable goods for the food service industry."
The Ohio based fast-casual restaurant serves wholesome, Eastern Mediterranean-inspired cuisine for guests to personalise their own salads and sandwiches. Founded in 2015, it is committed to using high quality, locally-sourced ingredients at its six restaurant locations. The concept provides healthy dining options without compromising flavor. It includes a front-line ordering experience and a welcoming atmosphere defined by natural materials and standout architectural details. Signature items include house-made falafel, baked-to-order organic pita, antibiotic-free meats, roasted vegetables, seasoned fries, vegan tahini chocolate chip cookies, and fresh-squeezed minty pink lemonade.
Nate Lawton, chief business development officer, Chipotle, said, "Investing in emerging culinary concepts that align with Chipotle's commitment to using real, fresh ingredients and making craveable food daily is consistent with our mission to Cultivate a Better World. Funding from Cultivate Next's minority investment will help Brassica scale to open new locations and expand to new markets."
|
|
|
|
|
|
|
|
|
|