Jasper tried to sell its technology to large food service companies. In a recent conversation, the CEO of the company gave an update on the company, which is a member of this year's Battlefield 200 at the event.
The reason for founding Jasper was to save time on cooking. They wanted to sell their platform to food suppliers and service vendors, so they went for a business-to-business approach. The company didn't gain corporate traction.
A few months ago, the company changed its name to Jasper and started using a model called a "cooking as a service". Jasper charges residents a subscription fee plus the cost of ingredients for meals in their robotic kitchens.
Good meals at home can cost a lot. The inefficiency of food delivery is due to the fact that restaurants or ghost kitchens prepare meals worth a few dollars and then pay someone to deliver them. Half of a customer's dollars are spent on platform fees and delivery costs. Jasper eliminates labor and delivery inefficiencies to offer residents freshly prepared gourmet meals at the cost of home cooking. Jasper meals are plated on porcelain which allows it to cut up to a third of their household waste
Jasper has a tech platform that assembles food. The image is called Jasper.
A recent example of a food automation startup is Chipotle, which invested in a robot that makes tortillas. Food-preppingrobots are an attractive proposition due to labor shortages and high costs. The automated canteen made $8.4 million in 2020. Chef Robotics raised over seven million dollars last May to help automate certain aspects of food preparation. This past summer, Makeline secured $24 million for its robot that automatically assembles bowl lunches, and a few months later, salad chain Sweetgreen bought kitchen robotic startup Spyce.
Los Angeles–based Nommi is more directly competing with Jasper. Cod with steamed potatoes, paprika cream chicken and sticky toffee pudding are just some of the menu items that Jasper's platform is capable of preparing.
Machine learning is used to schedule tasks and give out ingredients. The experience of a personal chef will be enabled by adding it. Jasper's ability to predict what customers would like to eat is the same as it is to predict what music you would like to listen to.
Jasper launched in six apartment buildings and ran multiple trials in a residential mid-rise over the last year. Only 231 customers have ordered food from Jasper using the company's ordering platform. In a sign that investors are happy with the progress, Jasper has raised over three million dollars.
The image is called Jasper.
Jim Adler, Toyota's founding managing director, said in an email that the company made an early investment in Jasper because of the team's vision of bringing fresh cooking, exciting menus, and high food quality close to consumers. The focus has been on how to serve customers meals at home. Recent labor shortage in the restaurant industry and growing consumer demand for affordable food options have led to their early traction. It is a perfect storm for Jasper, which is allowing the company to improve the way we eat.
The company plans to raise $7 million in additional capital in order to reach the goal of $2.5 million in annual recurring revenue. Jasper, which has 13 employees, has an ARR of less than $100,000.
Over the last few weeks, we launched Jasper in multiple buildings and will ramp up revenue. The funding will increase automation in our processes to get more revenue.
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