Category: NASDAQ: ACTG
Levy Restaurants Placing Robots in Stadium/Arena Kitchens
Levy Restaurants is working in collaboration with Miso Robotics to develop an industrial robotic arm capable of handling assistant cook responsibilities, within commercial kitchens at sporting venues. "Flippy", "built as a 3rd hand for overworked chefs", will be able to complete a variety of tasks ranging from flipping hamburgers (hence, the name) to changing out spatulas that touch raw food (per safety regulations). The robotic kitchen assistants will take over positions that require less skill, but the individuals currently occupying those jobs will not be let go; Levy Restaurants (and its venue partners) intend on moving those individuals into consumer facing, customer service roles. Though still in the initial pilot testing phase, the technology is expected to debut at Dodger Stadium this summer.
Howie Long-Short: Levy Restaurants built a 10-person robotics and AI team, invested $2 million into "Flippy" and then participated in Miso Robotics $10 million Series B round (the company has raised $13.1 million in total); so, expect the future of industrial kitchens to have robots handling the cooking and prep work. The Compass Group (OTC: CMPGF) subsidiary is the world's largest food service company, serving over $5.5 billion meals year, so their investment in a technology that will ensure more consistent food quality and increase the speed of delivery, seems wise. CMPGF isn't the only way to play Miso Robotics though, Acacia Research (ACTG), a publicly traded patent licensing company, led both company rounds.
Fan Marino: It was disappointing to learn that "Flippy's" Dodger Stadium debut will be at a popular fried chicken stand and he/she won't be handling the "flipping" of the team's traditional "Dodger Dogs". Of course, tradition doesn't necessarily mean high quality; hot dog historian Bruce Kraig once described the L.A. ballpark staple by saying, "it won't kill you." Since their 1962 debt, Farmer John (producer) has sold more than 3 million Dodger Dogs per year.
Author John Wall StreetPosted on March 9, 2018 March 8, 2018 Categories NASDAQ: ACTG, OTC: CMPGF, OTC: CMPGYLeave a comment on Levy Restaurants Placing Robots in Stadium/Arena Kitchens