BreadBot maker Wilkinson Baking Company raises $3m seed round to accelerate growth
Wilkinson Baking Company (WBC), the creator of world's first fully-automated commercial bread baking robot, announced the close of its fully subscribed $3.0 million seed round.
The round was led by prominent Washington investor Ken Peterson of Columbia Ventures Corporation (CVC), along with Rich Product Ventures (RPV). Several angel investors also participated. Funds will primarily be used to build and deploy additional BreadBots.
Ken Peterson, CEO, CVC: "In an era of high transportation costs and staffing constraints, I immediately recognized the potential for the BreadBot. The company required capital to unlock its next phase of growth and I was excited to partner with WBC and the Wilkinson family to build more BreadBots and see them deployed in grocery stores."
In July 2022, WBC deployed its first commercial-ready BreadBot™ into Andy's Market in College Place, Wash. This is the company's first permanent deployment, moving beyond initial test deployments. The company is manufacturing and assembling additional BreadBots™ and expects to have 20 units deployed by early 2023.
Paul Rhynard, CEO, WBC: "We are having engaging conversations with grocers who see our vision for changing the way bread is manufactured and distributed. This is just the beginning of our journey with a highly disruptive solution that brings truly fresh bread to consumers, thanks in part to our incredible new partners."
RPV, the corporate venture arm of Rich's, a $4.5 billion family-owned food company, also took an equity position in WBC.
Dinsh Guzdar, Managing Director, RPV: "Wilkinson is uniquely positioned to meet the many needs of grocers, bringing better bread margins, fresher product, and an improved in-store experience all through automation that does not require additional labor."
Prior to the series seed raise, WBC funded the company through founder contributions, angel investors, and convertible debt, which was converted into preferred equity at the close of the round.
Interviews.
[Interview] Caroline Mutuku, General Manager, Glovo, Kenya
Caroline Mutuku is Kenya's General Manager of multi-category app Glovo. Caroline joined Glovo in December 2022 from Swvl Kenya where she also served as the General Manager from December 2021. In this interview...read more here
[Interview] Renate Swanepoel, COO, INC. Networking
Renate Swanepoel is an entrepreneur, global networker and inspirational speaker that has helped thousands of people around the world to find their purpose. She has gained significant networking and communication...read more here
[Interview] Anne-Marie Chidzero, Chief Investment Officer, FSD Africa
Anne-Marie Chidzero is the Chief Investment Officer at the Financial Sector Deepening Africa (FSD Africa) Investments. In this interview, she talks about the risks and opportunities in backing Africa’s early-stage startups...read more here
[Interview] James Kilpatrick, Chair, Gravitilab, UK
Gravitilab is a "Space as a Service" business providing research, testing and qualification facilities to space agencies, government, academia and commercial enterprises. The company’s Chair and Chief Finance Officer...read more here
[Interview] Ramanjeet Singh, CEO, Woosper, USA
Woosper is a US-based digital advertising and marketing agency focused on creating experiences that help clients discover their place in the digital world. The CEO Ramanjeet Singh...read more here