Kitchen robotics startup Karakuri is to wind down after failing to secure fresh funding.
The London company, which has raised 拢13.5 million and is backed by supermarket Ocado – it owns almost 20% of the business – has appointed RSM as an administrator.
It does not intend to find a rescue deal following the collapse of talks with US-based food-service equipment manufacturer Henny Penny.
Karakuri has developed a robotic arm for preparing sushi dishes, while an automated chip fryer was trialled by Nando’s in March.
It is expected that 30 jobs will be lost.
The company stated: 鈥淎fter extensive negotiations with potential investors and acquirers to explore all possible options for the business, we鈥檙e sorry to report that Karakuri has been unable to secure the funding required to continue our developments and bring our products to market.
鈥淲e鈥檇 like to thank all of those who have supported us on our journey, our investors, customers, suppliers, and most importantly our incredible team.
鈥淥ur priority is now to help the team members find new roles. We鈥檒l publish a list of the talented people who make up Karakuri and their skills via LinkedIn shortly.鈥�
CEO Barney Wragg wrote on LinkedIn: 鈥淚t鈥檚 with a very heavy heart that I have to report that our journey at Karakuri is coming to an end.
鈥淔or the past five years, we鈥檝e developed and deployed robotics for the QSR industry. We鈥檝e survived many challenges, including the pandemic and our bank (Silicon Valley Bank) going bust, but sadly we鈥檝e been unable to find the funding we need to move to the next level.
鈥淢ost of all I鈥檇 like to thank the incredible team we鈥檝e built. They鈥檝e stayed dedicated to the challenge and built incredible technologies in the face of abject uncertainty.
鈥淚t鈥檚 incumbent on me to help these great people find new roles, spread their wings, and share their talents with others.聽
鈥淧lease feel free to reach out to anybody you think you need or could help find new roles. I鈥檓 also on hand to help in any way I can.鈥�