DoorDash has purchased Chowbotics, a maker of food-preparing robots, as part of its effort to help merchants expand their businesses, the delivery-app company announced Monday. The robots of California-based Chowbotics make customizable salads, grain and poke bowls, parfaits, cereals and snacks and can be found at grocery stores and hospitals. DoorDash envisions the machines could be used to automate some food preparation at restaurants.
DoorDash [$DASH] wouldn’t divulge how much it paid for the company, which says on its LinkedIn profile that it has distributed more than 100 of its robots. The deal was apparently capped off late last year. “Bringing Chowbotics’ technology into the DoorDash platform gives us a new opportunity to help merchants expand their current menu offerings and reach new customers in new markets,” said DoorDash co-founder Stanley Tang. Ackman’s Pershing Square & Simons’s Renaissance Technologies Got Pieced Up In January
As the pandy has propelled delivery of food and other goods to record levels, DoorDash is the top food-delivery app in the U.S., with a 50% market share. Venture-backed Chowbotics has raised $20.8 million and was valued by PrivCo at $50 million to $100 million in 2018. CEO Rick Wilmer mentioned that the deal will allow his 7-year-old company to take advantage of DoorDash’s lead in U.S. food delivery.
“DoorDash has the unparalleled reach and expertise to help us grow and deploy our technology more broadly, so together, we can make fresh, nutritious food easy for more people, Wilmer noted. The company’s acquisition of Chowbotics isn’t its first inroad into automation. In 2019, it gobbled up Scotty Labs, which is working on technology to remotely operate vehicles. The fair value of that purchase was $5 million, according to a DoorDash filing with the SEC. Greek Yogurt Giant Chobani Files IPO