Technology

Chipotle launches $50M venture fund

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April 19, 2022

Chipotle Mexican Grill has created Cultivate Next, a $50 million venture fund that will make early-stage investments into companies that further its mission to "Cultivate a Better World."

"We are exploring investments in emerging innovation that will enhance our employee and guest experience, and quite possibly revolutionize the restaurant industry," CTO Curt Garner said in a company press release. "Investing in forward-thinking ventures that are looking to drive meaningful change at scale will help accelerate Chipotle's aggressive growth plans."

Chipotle announced last month that it was testing an artificially intelligent robot, Chippy, to cook tortilla chips, as well as radio-frequency identification to trace and track ingredients in its restaurants. The nearly 3,000 unit chain is also leveraging a scheduling tool that uses machine learning to build more effective schedules and last year, made an investment in a leading autonomous delivery company, Nuro.

Companies interested in collaborating with Chipotle through Cultivate Next may apply by emailing CultivateNext@Chipotle.com.