Chipotle Mexican Grill is making strides this fall with new investments aimed at enhancing its Cultivate Next portfolio, which now includes nine companies. This initiative aligns with Chipotle’s goal to innovate the food industry.
The Newport Beach, California-based brand recently announced a new round of funding from its $50 million Cultivate Next venture fund, launched in spring 2022. The fund is designed to support early-stage companies that have the potential to transform the industry.
One of the latest beneficiaries is Lumachain, an AI-powered supply chain platform based in Sydney. This minority female-founded company specializes in real-time tracking of farm-to-table items, providing insights on their origin, location, and condition. This technology aims to minimize waste and enhance efficiency within the food service sector. Curt Garner, Chipotle’s chief customer and technology officer, highlighted that this software could improve the management and quality of perishable goods in the industry.
In addition to Lumachain, Chipotle has also invested in Brassica, a fast-casual restaurant chain from Columbus, Ohio.
Brassica focuses on Mediterranean-inspired sandwiches and salads, prioritizing wholesome ingredients and sustainable practices. Currently, Brassica operates six locations.
Nate Lawton, Chipotle’s chief business development officer, expressed that the investment in emerging culinary concepts reflects the company’s commitment to using fresh, real ingredients. He stated, “Funding from Cultivate Next’s minority investment will help Brassica scale to open new locations and expand to new markets.”
The Cultivate Next venture fund portfolio also includes companies such as GreenField Robotics, Hyphen, Local Line, Meati Foods, Nitricity, Vebu, and Zero Acre Farms.
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