Tuesday, February 1, 2022

Miso Robotics Seeks $40M More Via Crowdfunding

Pasadena-based robot developer Miso Robotics, which develops kitchen assistance robots, says it is looking to raise another $40M more via crowdfunding, after just completing $50M in an equity crowdfunding push. The company said it is undergoing a "SEC review process" ahead of the new crowdfunding effort. Miso said it plans to use the new funding to grow its workforce and to "satisfy the product demand" it is seeing in the marketplace. Miso Robotics is early into deploying its robots to take over mundane tasks in restaurants, such as flipping burgers, using machine vision and artificial intelligence technology. The company is led by CEO Mike Bell. Although the firm has some venture backing, it has been pursuing a very nontraditional crowdfunding route for capital, saying it raised more than $50M through more than 15,000 new and returning investors in its Series C and Series D rounds.