The services sector is currently seeing strong demand for automation post the pandemic, with companies looking to ensure more resilient businesses, safer working environments and food production for staff and customers.
The company has previously raised over $17m in funding rounds in the US, following a valuation of over £64m in 2019 and the equity crowd funding round in the UK is being hosted in collaboration with Crowdcube with the aim of raising over £24 million in funding worldwide, supporting expansion into Europe.
Miso Robotics, founded in 2016, has gained attention with its kitchen assistant Flippy that cooks a variety of fast foods. Claimed to be the world’s first autonomous robotic kitchen assistant arm, it can learn from its surroundings and acquire new skills and is already deployed across the US market at CaliBurger restaurants and iconic venues like the Dodger Stadium in Los Angeles through Levy Restaurants, part of the UK based Compass Group.
Heavily impacted by COVID-19, fast-food restaurants are now beginning to reopen, and robots like Flippy are increasingly being seen as a key piece of the future fast-food experience, and are now more affordable and available on a subscription service basis. More than 350,000 robots are estimated to have already been sold to the services sector last year according to the International Federation of Robotics (IFR).
The burger-flipping robot promises a safer and healthier work environment for staff and food production by reducing human to food contact, but also completes mundane tasks quickly, while increasing profit margins. Customers in the US deploying Flippy have projected an increase in profit margins of approximately 300%.
Miso Robotics has also recently announced a partnership with PathSpot and PopID to further advance sterile and safe cooking environments. PathSpot is a hand-scanning device, which can check an employee’s hands in two seconds to determine whether pathogens are present, which will be integrated into Flippy. PopID, a face payment platform, attaches to doors to scan and measure the body temperatures of staff, delivery drivers, and guests, and can detect if the person has a fever.
“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,” said 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. Crowd funding means that everyone has the opportunity to invest and be part of this emerging and exciting sector.”
“We’ve seen a surge in innovative robotics companies successfully raising with Crowdcube, as advanced robotics technology advances and finds new applications. Miso Robotics has a product and vision that aims to transform commercial kitchens using artificial intelligence that will undoubtedly catch the eye of investors.” said Luke Lang, Co-Founder and CMO at Crowdcube.
