Sweetgreen buys robotic restaurant startup Spyce

Salad chain envisions Spyce’s conveyor belt technology powering its restaurants

National /
Aug.August 25, 2021 11:45 AM
Sweetgreen CEO Jonathan Neman and Spyce CEO Michael Farid (Getty, Spyce)

Sweetgreen CEO Jonathan Neman and Spyce CEO Michael Farid (Getty, Spyce)

Salad chain Sweetgreen is moving into the tech space, acquiring automated restaurant firm Spyce for an undisclosed price.

Based in Boston, Spyce uses a robotic kitchen to replace cooks, using conveyor belts to serve up dishes like kale salads and banh mi bowls. Sweetgreen told Insider that it envisions using Spyce’s technology to power its restaurants.

Spyce was not without its issues after its founding by MIT graduates in 2018. After raising $21 million in Series A funding, the company was forced to temporarily close in 2019 to tinker with the automation process, as well as the menu. It reopened in November 2020 with new technology to improve the flavor of the food.

In Spyce restaurants, bowls travel along a conveyor belt, where ingredients are dropped into containers after being cooked at varying temperatures, depending on the product, as the bowl moves down the assembly line.

The acquisition won’t necessarily increase Sweetgreen’s physical footprint. While Spyce consists of just two restaurants in Boston, there are already 130 Sweetgreen locations across the U.S. and the company is valued at $1.8 billion; the chain submitted confidential plans for an IPO in June.

Sweetgreen has shown interest in tech investments in the past. According to Fast Company, the chain acquired meal delivery service Galley Foods in 2019. Last week, the company hired Wouleta Ayele, the former SVP of Starbucks Technology Services, as its chief technology officer.

Sweetgreen’s deal for Spyce is expected to close by the end of the third quarter.

[Insider] — Holden Walter-Warner





    Related Articles

    arrow_forward_ios
    Eric Gordon
    Eric Gordon on the evolution of the residential data game — and how to stay competitive in the new world
    Eric Gordon on the evolution of the residential data game — and how to stay competitive in the new world
    Big Tech locations in NYC
    MAP: Here’s a look at all the Big Tech locations in NYC
    MAP: Here’s a look at all the Big Tech locations in NYC
    What will proptech look like in 2019 and beyond?
    What will proptech look like in 2019 and beyond?
    What will proptech look like in 2019 and beyond?
    53 Sonrise Place in Fellsmere, FL and Starwood Capital Group chairman Barry Sternlicht (Google Maps, Illustration by The Real Deal with Getty)
    Starwood snaps up Florida affordable housing portfolio
    Starwood snaps up Florida affordable housing portfolio
    Carpenter & Company's Richard Friedman and 2 Canal Street in New Orleans (Carpenter & Company, Google Maps)
    New Orleans Four Seasons lands $315M loan from Madison Realty Capital
    New Orleans Four Seasons lands $315M loan from Madison Realty Capital
    HUBB’s John McCarthy, Greystone's Thomas Ryan and 223-225 4th Avenue (Google Maps, Greystone, Getty)
    HUBB NYC continues 421a spending spree, buying Park Slope building
    HUBB NYC continues 421a spending spree, buying Park Slope building
    120 East 39th Street (Hotels, Getty)
    Short-term rental company taking over Midtown hotel
    Short-term rental company taking over Midtown hotel
    One Soho Square with Stellar Management’s Larry Gluck and Yotpo CEO Tomer Tagrin (LoopNet, Twitter, Gluck Family Foundation)
    Yotpo inks 30K sf sublease at Stellar’s One Soho Square
    Yotpo inks 30K sf sublease at Stellar’s One Soho Square
    arrow_forward_ios

    The Deal's newsletters give you the latest scoops, fresh headlines, marketing data, and things to know within the industry.

    Loading...