PASADENA, Calif. – Miso Robotics, creators of the ‘Flippy’ grilling and deep-frying robotics platform, announced today it is seeking to raise up to $30 million through crowdfunding. In collaboration with SeedInvest (by Circle) and Wavemaker Labs, the company has opened reservations for a new series round of equity crowdfunding.
The company said equity crowdfunding allows startups and private companies to raise money through the investment of relatively small amounts from a large number of investors, who might be outside the traditional venture capital model. To make a reservation in the crowdfunding round, visit this website. Individual investors must make a minimum investment of $1,500.
“We are thrilled to provide a new window of access into an innovative world where artificial intelligence can assist kitchen staff in meeting the fast-paced demands of the changing food-service industry,” said Buck Jordan, CEO and co-founder of Miso Robotics. “Since its debut, Flippy has become a household name, we’re excited to bring fans along on our next journey, and venture towards growth.”
Food service changing
Miso said the food service industry is seeing a 150% turnover in staffing, just as the food delivery market is projected to hit $365 billion by 2030. “Addressing food preparation speed and customer expectations for quality has never been more important to remain competitive,” the company said.
Since its debut, Miso has raised nearly $15 million in earlier funding rounds from investors that include Wavemaker Labs, MAG Ventures, and CaliGroup. The company debuted Flippy at CaliBurger’s Pasadena location, and the robot is set to begin integration into more than 50 CaliBurger locations worldwide. The company recently announced a second location for Flippy – Fort Myers, Fla. – which will open soon. The “CaliBurger 2.0” restaurants are also coming soon to Seattle’s Westlake Center and The Boro in Tysons Corner, Va. In addition to flipping burgers, Flippy has been deployed doing deep frying tasks at Dodger Stadium in Los Angeles, and Chase Field in Phoenix.
Miso Robotics is the second company in recent months that has looked to equity crowdfunding platforms to raise money. Knightscope, which develops mobile security robots for physical security applications, last week added the StartEngine platform for its latest crowdfunding round.
You can watch the company’s fundraising video here: