Miso Robotics has already made headlines with its Flippy 2 and Sippy robotic vacuum cleaners. Recently, the company’s robotic vacuum cleaners were featured on the Late Show with Stephen Colbert. The company’s crowdfunding campaigns have also benefited from broader market shifts. Their first campaign, launched in August 2020, was held during economic turmoil, but people were encouraged to invest in the company by stimulus payments and enhanced unemployment programs. The company has also benefited from disruptions in the hospitality labor pool with the launch of Covid-19.
In its early development phase, the Miso Robotics Flippy 2 is a kitchen robot that uses a robotic arm to operate existing equipment. It has a higher capacity than its predecessor, making up to 60 baskets per hour. And it also takes up less space, with a reduction of 56 percent in aisle width and 13 percent in overall height. The company has already signed pilot agreements with several national brands, including Buffalo Wild Wings Parent Inspire Brands. While many businesses may not be ready for its deployment, many are considering it an investment in the future of their business.
In its first pilot, the company noted that its robot improved productivity in the kitchen. It hopes to expand the program after the current trial period ends. The Flippy is capable of cooking anything that can be fried. This is a huge improvement over the original version, which could ultimately lead to a significant reduction in labor costs. This is just one of the benefits of automated cooking. Ultimately, it could make a significant impact on the restaurant industry, helping to eliminate the need for human workers in the kitchen.
The Miso Robotics Sippy and Flippy 2 are designed to increase efficiency in the kitchen by automating simple and difficult tasks such as flipping burgers and fries. By eliminating these tasks, workers can focus on higher value tasks, such as serving customers. The robots are based on a platform called the Miso Platform, which helps restaurants integrate robots into their existing operations. Jack in the Box restaurant chain is one of the first to trial AI-powered systems from the company.
The Miso Flippy has already been deployed in White Castle restaurants across the U.S. Miso Robotics announced in February 2022 that it had agreed to expand its partnership with the restaurant giant to more locations. The collaboration began in 2020 and is set to extend to 200 locations in the next year. The company has also partnered with Inspire Brands and recently announced a partnership with White Castle to use the robotic food-ordering system in their restaurants.
If you’ve watched Flippy, you’ve likely seen the Chippy, the automated chip-making robot that’s currently being tested by restaurants including Chipotle. But did you know that Miso Robotics also makes other innovations, including the Covid-19, which has made its way onto The Late Show with Stephen Colbert? The company is hoping to capitalize on the interest in kitchen robotics by offering equity in its new products.
The company has also recently made progress on customer traction, hiring a new CEO in Mike Bell, who had previously worked in the division of a publicly traded company. In its crowdfunding campaign, Miso Robotics is raising over $14 million from 3,611 investors. Miso Robotics will use the funds to continue developing new innovations, like Flippy. And the company hopes to grow into an enterprise that will produce these products for consumers.
In February, Miso Robotics announced a seven-for-one stock split. This action was in response to the company’s rapid growth, and represents an opportunity to share value with retail investors. Before the split, preferred shares of Miso Robotics traded for $50 to $60 apiece. These shares can now be purchased for $10 each. The company intends to use the stock split as an opportunity to increase retail investors’ access to the technology behind their innovative robotic products.
While the Great Recession has impacted almost every sector, there are signs that innovation is on the rise again. For example, the Nasdaq Composite index has recently surpassed its previous highs, indicating that a coronavirus has not halted the pace of innovation. And, Miso Robotics has an edge over other equity crowdfunding plays, and a real and credible solution to the new normal of economics.
The founding team of Miso Robotics, led by CTO and Co-Founder Ryan Sinnet, has spent their entire careers developing novel control algorithms and control systems for robotic systems. As a PhD student, they were awarded an NSF Graduate Research Fellowship to bridge the gap between human and robotic walking. Later in their career, they worked for NASA at the Johnson Space Center on humanoid robotics. Prior to joining Miso Robotics, Mr. Sinnet held leadership positions at eSolar and Wavemaker Partners. His extensive experience in developing software and control algorithms for robotic systems has allowed him to successfully navigate the company’s current challenges and build a highly profitable future.
The early results of Miso Robotics’s research show that automation is critical to the restaurant and prepared food industries. Labor cost is a primary challenge in the industry, making automation an absolute necessity. Miso Robotics employs a distinguished team of roboticists, engineers, and industrial designers from universities such as MIT, Caltech, and Cornell. In addition, the team has developed proprietary software, ChefUI, which controls the robot’s operations. These tools allow restaurant owners to optimise production lines and ensure food is fresh at customer pickup. Miso is adding camera capabilities and sensors to its robots, providing real-time inventory needs.
Recently, the team behind Miso Robotics announced its stock split, seven-for-one. This move was an indirect response to the company’s explosive growth. Prior to the split, preferred shares of the company traded for $50 to $60 apiece, and now you can purchase common shares for just $10. Miso Robotics’ stock split is designed to provide a more affordable entry point for retail investors looking to invest in the company.
The company is also partnering with Jack in the Box to pilot its Flippy 2 and Sippy robots for the restaurant chain’s standalone locations. The company plans to integrate additional robots into the Jack in the Box system in the future. Miso Robotics’ technology is based on machine learning, data analytics, and artificial intelligence to deliver an exceptional guest experience. Using its robots to assist Jack in the Box will reduce labor costs and help team members spend more time with customers.