Chipotle said its venture fund is investing in two startups that have the potential to accelerate its growth.
Chipotle said Thursday it's investing in two startups through its $50 million venture fund, Cultivate Next.Meati, a company making mushroom-based meat alternatives, was the other.said Thursday it's investing in two companies that have the potential to accelerate its growth − one that automates kitchen operations and another that makes plant-based versions of chicken and steak with mushrooms.
The Newport Beach, California-based company said Cultivate Next, its $50 million venture fund, will invest in Hyphen and Meati Foods. Hyphen uses robotics to automate portioning out bowls and plates without the need for staff, Chipotle said in a release. Hyphen says its technology can make over 350 meals an hour.
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