Prudence Pitch

11:04 09/11/2019 | 7newstar.com

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Miso Robotics will kick off an equity crowdfunding round $30 million in collaboration with Circle’s SeedInvest and Wavemaker Labs

(Business) For the uninitiated, equity crowdfunding - sometimes referred to as crowd-investing, investment crowdfunding, or crowd equity - enables backers to contribute funding in return for ownership of a small piece of a company. The value of shares go up or down with the company’s fortunes.

 

 

Miso Robotics‘ work is principally in the food service industry, where its marquee robot - Flippy - will soon flip burgers at more than 50 CaliBurger locations globally. Flippy is able to serve up to 300 burgers an hour, thanks to a combination of cameras, safety scanners, and Miso AI, the company’s eponymous cloud-based platform, which alerts nearby human workers when orders are ready to be served.

Flippy can take on tasks like scraping grills, draining excess fry oil, and skimming oil between frying, and it can switch between tools - like a spatula for raw meat and another for cooked meat. Thanks to the aforementioned cameras, it can recognize and monitor items like baskets and burger patties in real time. It also integrates with point-of-sales systems to route orders automatically and optimize which tasks to perform.

Miso Robotics - whose team hails from Caltech, Cornell, MIT, Carnegie Mellon, Art Center, and the University of South Carolina at Chapel Hill - has raised around $15 million in earlier funding rounds from investors that include parent company CaliGroup, MAG Ventures, Acacia Research Corporation, Levy, and OpenTable CTO Joseph Essas. More recently, it nabbed an investment of $11 million from CaliGroup.

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