Chipotle Mexican Grill launches $50 million venture capital fund

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Restoration company based in Newport Beach, CA Chipotle Mexican Grill (NYSE: CMG) has launched Cultivate Next, a new fund that intends to make early stage investments in strategically aligned companies that advance the company’s mission”to cultivate a better world.

Cultivate Next plans to support seed-to-Series B-stage companies that can accelerate strategic business priorities such as running great restaurants, amplifying technology and innovation, advancing its Food With Integrity mission and expanding consumer access and convenience.

The new venture capital fund will have an initial size of $50 million and will be funded solely by Chipotle.

Companies interested in collaborating with Chipotle through the new Cultivate Next venture capital fund can apply by emailing [email protected].

Chipotle Mexican Grill, Inc. (NYSE: CMG) serves responsibly sourced real food, cooked the classic way, with wholesome ingredients without artificial colors, flavors or preservatives. The company, which had more than 2,950 restaurants as of December 31, 2021 in the United States, Canada, the United Kingdom, France and Germany, owns and operates all of its restaurants and has nearly 100,000 employees.

As a digital leader, Chipotle recently began testing an artificially intelligent robot, Chippy, to cook its tortilla chips, as well as radio frequency identification (RFID) to trace and track ingredients in its restaurants. These measures aim to both increase efficiency and improve the human experience. The company is also leveraging a new scheduling tool that uses machine learning to create more efficient schedules and last year it invested in self-driving delivery company Nuro.

EndSME

04/19/2022

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