Robotics Has Transformed Many Industries – Is The Food Industry Next?
Silicon Valley, CA
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February 22, 2023 09:00 AM Eastern Standard Time
By Faith Ashmore, Benzinga
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It’s almost impossible to miss how food prices have been rising in the past year due to inflation. Fuel prices have soared, and the cost of common goods like eggs has risen by up to 60%. In addition, geopolitical conflicts like the war in Ukraine are increasing global instability and affecting food supply chains – impacting markets globally.
One solution that industry leaders and analysts have identified lies in the expansion of the global food service robotics industry.
Looking to technology during times of crisis is not a new trend. The automotive industry has been aided significantly by robotics teams to help automate assembly lines and cut down costs, especially amid recessions. Robots are found in almost every part of a car plant, and it’s estimated that by 2025 as much as 75% of vehicles will ride on robot production lines. Manufacturing in general has been absolutely transformed by robotics, helping manufacturers achieve peak efficiency and productivity. The food industry is no different, but it requires innovative approaches to fully leverage the advantages of robotics.
Technology and innovation are crucial to the modern food service industry. Not only does technology help companies lower operating costs but it also expands access to fresh food in more locations. While robotics in food service is still in its relative infancy, the increasing ingredient and labor cost challenges are accelerating their growth to help transform the food service industry as it did manufacturing – and companies like Blendid are leading the charge.
Blendid, a robotic and AI-enabled food automation solution company, has seen firsthand the success of a fully autonomous robotic kiosk for smoothies. Their kiosks operate in universities, travel centers, retail stores, and hospitals across the country. The kiosks can operate 24/7, which gives consumers access to healthy and affordable food around the clock while the company is able to maintain low operational costs.
The company has seen a 267% revenue increase year-over-year which is unsurprising given the consumer demand for healthy and sustainable food. Not only is the kiosk model contactless, but being open 24/7 increases the accessibility of healthy food. For college students or late-night workers, who typically have limited access to healthier foods, Blendid is changing the landscape of food justice.
If projections are to be believed, the food robotics industry is only going to continue to grow. The global market for food robotics was estimated at $2.1 billion in 2022, and the market is projected to reach $4B by 2026. Companies like Blendid will be instrumental in the industry by providing unique experiences and options for consumers on the go.
Blendid is currently hosting a raise to further expand its ingenious concept. The company is currently working on expanding to 10 additional geographies in the near future and has 500+ kiosks in contract. Previously, they raised more than $26 million which translated into significant revenue growth. It is clear that the consumer demand is there for the smoothie kiosk model and it’ll be interesting to see how Blendid will continue to be an industry leader.
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This article was originally published on Benzinga here.
Sunnyvale-based Blendid is revolutionizing the future of food service with its proprietary food automation platform (foodOS™), which efficiently and safely prepares and serves a range of healthy, fresh, and delicious food. A pioneer of the future of food service, Blendid's first concept in the market is an autonomous, contactless kiosk that uses robotics, machine vision, artificial intelligence, and healthy ingredients to create delicious smoothies that are customized to meet the unique health and dietary preferences of each consumer. Founded in 2015 by seasoned Silicon Valley entrepreneurs Vipin Jain, Venki Avalur, and Vijay Dodd, Blendid is improving the consumer experience by offering safe, cost-effective, and personalized food on-demand, while also reducing complexities and costs for the operators. Blendid has raised more $20M to date from a mix of venture and crowdfunding investors and is currently raising its Series B investment round. Visit www.startengine.com/blendid for more information and to invest in the future of food service automation.
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