Souszen
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- Restaurant, Food Tech, Technology
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- Startup
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Xinova, spun out of Intellectual Ventures in 2016, shutters after failed fundraising and restructuring
Xinova, a Seattle-based invention-network company spun out of Intellectual Ventures in 2016, is winding down after failing to raise additional capital and unable to restructure legacy liabilities. The firm raised $48 million in Series A funding, grew a 12,000-inventor network, employed 100+ people at its peak, and has cut staff to two employees assisting the shutdown.
Picnic raises $3M from existing investors to commercialize pizza-making robot producing 300 12-inch pizzas/hour
Seattle startup Picnic raised $3 million from existing investors to accelerate commercial rollout of its pizza-making robot capable of producing up to 300 12-inch customized pizzas per hour, citing increased pandemic-driven demand and plans to use funds for development, hires, and marketing.
Seattle Startup Picnic Raises $5M Seed Funding for Pizza-Making Robot Assembling 300 Pizzas Per Hour
Seattle startup Picnic raised $5 million in a seed round to advance their pizza-making robot, which can assemble 300 pizzas per hour and has attracted global interest. The funding will help develop the next version and expand pilot programs, addressing labor shortages in the food industry.
