Steph Curry's VC firm just backed an AI startup that wants to fix food supply chains

TechCrunch
TechCrunch
3M ago
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Burnt, a Y Combinator startup, has raised $3.8 million to automate food supply chains using AI, backed by Steph Curry's venture firm.
Steph Curry's VC firm just backed an AI startup that wants to fix food supply chains
A What happened
Burnt, a Y Combinator startup, has raised $3.8 million in seed funding to revolutionize food supply chains through AI automation. Led by NBA star Steph Curry's Penny Jar Capital, the company aims to tackle longstanding inefficiencies in the food industry, where traditional software solutions have failed. Co-founder Joseph Jacob, who has extensive experience in the seafood supply chain, emphasizes the need for better supply chain management in an industry with thin margins. Burnt's AI agent, Ozai, automates order-entry processes, potentially handling up to 80% of workflows currently managed by outdated systems. Since its launch, Burnt has processed over $10 million in monthly orders and is already generating significant revenue. The startup's approach of layering AI on existing systems rather than replacing them is seen as a key advantage in gaining trust within the industry.

Key insights

  • 1

    AI in Food Supply Chains: Burnt aims to automate food supply chain tasks using AI, addressing inefficiencies.

  • 2

    Funding from Notable Investors: The startup secured $3.8 million in funding led by Steph Curry's venture firm.

  • 3

    Focus on Existing Systems: Burnt's strategy involves layering AI on top of current systems rather than replacing them.

Takeaways

Burnt's innovative approach to automating food supply chains could significantly enhance efficiency in the industry.

Topics

Business & Markets Startups/VC Innovation