Chipotle Mexican Grill (NYSE: CMG) has announced the expansion of its Cultivate Next venture fund, increasing its total investment pool to $100 million, doubling its initial $50 million commitment made in 2022. The fund is designed to support early-stage companies focused on innovations in agriculture, supply chains, automation, and restaurant technology.
This move aligns with Chipotle’s broader strategy to accelerate growth, enhance operations, and work toward its goal of expanding its restaurant count to 7,000 locations across North America. The fund aims to address key industry challenges while supporting sustainable and transformative advancements in food tech.
Curt Garner, Chipotle’s chief customer and technology officer, explained, “Our decision to double our commitment to our Cultivate Next venture fund is a clear indicator that we are investing in the right companies that we can learn from and utilize to improve the human experience of our restaurant teams, farmers, and suppliers.”
Supporting Sustainable Innovation
Since its inception, Cultivate Next has backed several startups working on groundbreaking solutions. Notable investments include Meati Foods, which produces protein-rich meat alternatives made from mycelium, and Zero Acre Farms, which is developing sustainable cooking oils through fermentation. Chipotle is currently testing Zero Acre Farms’ oils at its Irvine, California, test kitchen as part of its commitment to exploring environmentally friendly menu options.
The fund has also invested in Plantible, a company pioneering the use of duckweed to create sustainable, allergen-friendly proteins that mimic the texture and functionality of animal-based proteins. Other portfolio companies include Local Line, a food-sourcing platform; GreenField Robotics, focused on regenerative farming; and Vebu, a robotic avocado processor.
Christian Gammill, Fund Manager for Cultivate Next, highlighted the program’s progress, stating, “It is incredible to see the possibilities that exist when we bring the right founders, startups, or ventures into collaboration with Chipotle. Witnessing the progress of our cohorts over the past two years has motivated us to scale our efforts and drive real change in the supply chain, agriculture, restaurant innovation, and automation sectors.”
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