The burrito chain added to its innovation efforts by announcing a strategic investment arm focusing on restaurant, food supply and sustainability technology.
Fast food chain Chipotle Mexican Grill launched a $50m corporate venture capital vehicle yesterday to invest in companies innovating in the food industry.
Dubbed Cultivate Next will be capitalised through Chipotle’s balance sheet and will focus on seed to series B-stage companies developing innovative products across areas such as advanced robotics, farming and the supply chain, as well as restaurant operations and sustainable food.
Chipotle has been exploring innovation for a while, having launched an accelerator called Chipotle Aluminaries Project in 2019 under the auspices of its Chipotle Cultivate Foundation to support ventures that promote sustainability and food equity.
The accelerator’s initial cohort was made up of eight startups including GrubTubs, which converts food waste to animal feed, livestock health services provider Rex Animal Health, sustainable meat producer American Ostrich Farms and sustainable bottled water brand Asarasi.
Chipotle then provided an undisclosed amount of series C funding for autonomous…
Fernando Moncada Rivera
Fernando Moncada Rivera is a reporter at Global Corporate Venturing and also host of the CVC Unplugged podcast.
