British online supermarket giant Ocado has made its 1st tech startup investment in a robotics company called Karakuri, leading a $9 million funding round
British online supermarket giant Ocado has made its first tech startup investment in a robotics company called Karakuri, leading a $9 million funding round that was announced on Thursday.
Ocado appears to have big plans for the small company, which was incorporated by entrepreneurs Simon Watt and Barney Wragg as they took part in the Founders Factory startup accelerator last year. Specifically, Ocado claims that Karakuri's technology has the potential to revolutionise the preparation of ready-to-eat meals.
"By using robotics and machine learning, Karakuri’s systems provide localised micro-manufacturing within an existing restaurant, retail or commercial kitchen," said Wragg, CEO of of Karakuri. Ocado invested $6.2 million in the company in exchange for an 18% stake in the company and a position on the startup's board.
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