9th May 2019 11:59
LONDON (Alliance News) - Ocado Group PLC on Thursday said it acquired a minority stake in Karakuri, a robotics start-up specialising in meal assembly.
Ocado invested GBP4.8 million in Karakuri for an 18% stake, as part of a GBP7 million funding round. The start up is the owner of a machine which automates the assembly of ready-to-eat meals.
Other investors in Karakuri include Deliveroo backer Hoxton Ventures and lastminute.com co-founder Brent Hoberman's vehicle Firstminute Capital.
Tim Steiner, founder and CEO of Ocado, said: "Ocado is constantly striving to identify the best and most innovative solutions to provide consumers with the greatest possible value, choice and convenience."
"Our investment in Karakuri, potentially a game-changer in the preparation of food-to-go, gives us the opportunity to bring the best of innovation to the benefit of our own customers as well as those of our partners."
Ocado plans to use Karakuri's machine to expand its offer, with the online grocer looking to take delivery of the first machine later this year.
Earlier on Thursday, Ocado said it had agreed to loosen the exclusivity of its partnership with Wm Morrison Supermarkets PLC in the UK.
In a further statement, Ocado also announced the signing of a agreement with Sobeys Inc to build a second automated warehouse in Pointe-Claire, a suburb of Montreal in Quebec, Canada.
Ocado shares were trading up 1.4% at 1,372.50 pence each.
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