This is where the Cultivate Next fund comes into play. On Chipotle’s recent fourth-quarter earnings call, CEO Brian Niccol said the company’s “technological transformation” has been an important growth driver over the last few years.Īccording to the company’s fourth-quarter earnings call, Chipotle plans to grow to 7,000 restaurant units over the long term and will invest in the kinds of innovations that can foster such growth.Last year, the company invested in self-driving delivery startup Nuro.Chipotle is testing radio-frequency identification (RFID) tech for inventory systems at its Chicago distribution center and about 200 Chipotle locations in the Chicago area.
The company has also implemented an AI and analytics tool from Zip Schedules to manage staffing and scheduling requirements.
The launch of Cultivate Next comes after several years of Chipotle testing and implementing numerous restaurant tech initiatives across its business: The fund’s initial size is $50 million and financed solely by Chipotle. US fast-food chain Chipotle has launched Cultivate Next, a venture fund that will invest in early-stage startups developing food and restaurant tech that lines up with the company’s own growth goals.Ĭultivate Next, run by Chipotle chief technology officer Curt Garner, will invest in startups at seed to Series B stages with solutions that can improve employee and guest experiences.
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