Wilkinson Baking Company (WBC), which claims to have created the world’s first fully-automated commercial bread baking robot, has announced the closure of a US$3m (£2.6m) seed round.
Financing was led by private equity firms Columbia Ventures Corporation and Rich Product Ventures. Several angel investors also participated.
The company has said that the raised funds would primarily be used to build and deploy additional BreadBots.
In July 2022, Wilkinson Baking Company deployed its first commercial-ready BreadBot, which was the first to move beyond initial test deployments.
The company claims it is manufacturing and assembling additional BreadBots, with expectations to have 20 units deployed by early 2023.
“We are having engaging conversations with grocers who see our vision for changing the way bread is manufactured and distributed,” said Paul Rhynard, CEO of WBC.
“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.”
Prior to this financing round, WBC funded the company through founder contributions, angel investors and convertible debt, which was converted into preferred equity at the end of the transaction.
