Ocado Makes First Tech Startup Investment In Robotics Firm Karakuri

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.

Malaysia Malaysia Latest News, Malaysia Malaysia Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Chinese investment in U.S. startups peaks but 'tremendous uncertainty' aheadChinese investment in U.S. startups peaks but 'tremendous uncertainty' ahead by heathersomervil
Source: Reuters - 🏆 2. / 97 Read more »

Tim Cook says Warren Buffett's investment shows that Apple isn't really a tech company anymoreWarren Buffett, the Oracle of Omaha, has historically invested in technology only sparingly. tim_cook I consumed my first iPhone but Verizon was nice enough to give me another one.
Source: CNBC - 🏆 12. / 72 Read more »

The tech head at $1.7 trillion investment firm Pimco told us how a new tool is turning every employee into a data scientistPIMCO is trying to turn every employee into a 'citizen data scientist,' chief technology officer Dirk Manelski told Business Insider.
Source: BusinessInsider - 🏆 729. / 51 Read more »

Warren Buffett shares most 'fun' investment he's ever madeAt Berkshire Hathaway's annual meeting, a young shareholder asked Warren Buffett what his favorite investment was outside of the conglomerate.
Source: BusinessInsider - 🏆 729. / 51 Read more »