Company’s approach to fundraising democratizes access to investing in emerging technology
PASADENA, Calif., April 7, 2020 /PRNewswire/ — Miso Robotics announced today the official start of their Series C equity crowdfunding campaign, following SEC approval. The company has already secured over $2.6M in reservations, following a $80M pre-money valuation in 2019. The campaign is being executed in collaboration with SeedInvest and Wavemaker Labs, with the aim of raising up to $30M in new funding.
The boom in artificial Intelligence and machine learning technology has attracted an enormous amount of interest from the public – fascinated by what the future holds for fields like robotics. One robot that has drawn the public eye is Miso Robotics’ autonomous kitchen assistant, Flippy. First launched at the Pasadena, CA location for the CaliBurger, a quick service global restaurant chain, the burger-flipping robot brought a safer and healthier work environment to staff by reducing human to food contact, while expediating the completion of mundane tasks to meet the demand surges of the new delivery-driven industry.
Flippy’s quick rise to fame sparked Miso Robotics to re-think their next round raise – deciding to bring intelligent automation to the masses for investment. With an equity crowdfunding approach, individual investors can enter the field without access to a large source of capital. The model gives an average person the opportunity to bring transformative technologies, like Miso Robotics, to market. Interested parties can invest in the raise with a minimum of $1500. In return, they receive ownership of a small piece of the company, which will increase or decrease in value with the company’s fortunes.
“It has become clear that the traditional VC fundraising model has limited the investor pool to only heavyweight companies for far too long. There is so much exciting innovation underway in AI and ML that the average person wants the opportunity to invest,” said Buck Jordan CEO of Miso Robotics. “The demand is really starting to disrupt the VC landscape with more companies opening themselves up to smaller individual investors – it’s been a growing trend, and Miso Robotics is excited to allow more people to shape a healthier and more productive kitchen environment for the future.”
In January 2020, the company launched Flippy ROAR, the next iteration of Flippy, designed to meet the needs of the quick service restaurant (QSR) market that is facing growing challenges in labor turnover, real estate costs, delivery and take out demand, as well as health concerns. The new design positions Flippy under a standard kitchen hood creating as zero-footprint impact to optimize space, while expanding abilities to cover more staff stations by interacting with a food hopper. The advancement further limits the transmission of potential pathogens through food contact, while producing higher volumes of perfectly consistent treats thanks to enhanced frying capabilities for up to 14 different foods.
Miso Robotics value proposition has continued to grow as individuals look to invest in promising solutions. While projections of economic downturn amid COVID-19 are causing some industries to slow down, automation is proving to be an area of growth. Since the rise of the pandemic, SeedInvest saw a spike in investments for robotics, automation and healthcare solutions – with March marking the highest jump.
“In the current environment, we are especially interested in startups that might thrive due to the impact of COVID-19,” said Ryan Feit, CEO & Co-Founder of SeedInvest. “There will likely be strong tailwinds for robotics solutions in the hospitality sector and we believe that Miso is uniquely positioned to potentially capitalize.”
The new Series C round raise will accelerate speed to market for Flippy ROAR and serve to expand the current talent for the team that already spans data science, industrial engineering and robotics experts.
Invest in the future of intelligence behind the machine, by investing in Miso Robotics today: http://invest.misorobotics.com/