Mentioned:
Ghost kitchens are gaining popularity all across the world. Are robots going to run them?
What’s happening:
- Richtech Robotics (NASDAQ: RR) has announced a new deal with Ghost Kitchens America in which they will leverage their artificial intelligence powered robots to operate restaurant locations within Walmart (NYSE: WMT) stores across the United States
How it works:
- Richtech Robotics will install their flagship fleet of robots into Ghost Kitchens America locations where they will use their capabilities for making drinks and performing other simple operational tasks completely autonomously
- The new deal between Richtech Robotics and Ghost Kitchens America grants franchisee rights to Richtech Robotics to allow them to fully operate the restaurants and integrate robotics as well as artificial intelligence cloud technology
Why it matters:
- Ghost kitchens have been a growing trend, notably with Uber (NASDAQ: UBER) founder Travis Kalanick launching his own startup CloudKitchens which is focused on establishing hundreds of ghost kitchens globally
- The public markets have been starting to get excited about robotics recently, following multiple companies launching new products and making strategic investments
Going deeper:
- Richtech Robotics has been successfully landing multiple innovative deals for their two flagship robots, previously launching ADAM into a major league sports arena and more recently inking a new distribution deal for their Scorpion robot
