Spyce CEO Michael Farid Spyce

Massachusetts based Spyce, The food startup notable for its use of a robotic kitchen which cooks meals for its customers has now raised $21 million in a new funding round co-led by Collaborative Fund and Maveron with additional participation from renowned VC Kholsa Ventures, An already existing investor and several other world-recognized chefs.

Some of the chefs participating in this round include Chef Thomas Keller, Chef Jerome Bocuse, and Chef Gavin Kaysen, 3 popular and globally renowned culinary experts.

Spyce is gearing this funding towards opening new restaurants on the East Coast while further developing its robotic culinary platform. The startup founded by 4 MIT graduates 3 years ago is also expecting to roughly double its size over the next year with this investment.

Spyce

Its first restaurant opened in Boston offering a unique food experience resonating with various consumer desires. It’s pioneering a new way of providing nutritious meals for diverse customers.

“Spyce’s focus on delivering value and service to consumers, combined with their incredible product of delicious meals, has contributed to its early success and rabid fanbase,” said Craig Shapiro, Managing Director at Collaborative Fund which co-led this round. “Their ability to offer higher quality food at a reasonable price is a simple recipe for success.

“Spyce has utilized an incredibly thoughtful approach in how they provide consumers with a stellar experience. Michael, Kale, Luke, and Brady are the kind of founders we’re proud to back; people who can lead with humanity and put the customer first, all while leveraging technology to solve big problems. Paying fast food prices for high-quality meals is revolutionary and we think consumers will gravitate towards their craveable, exciting meals,” Dan Levitan, Cofounder and Partner at Maveron which co-led along with the Collaborative Fund also added..

Spyce

Spyce stands similar to another food tech company Zume which was reported to be in talks for a $750 million investment from Softbank sometime last month. No deal has been finalized yet as of current.

The company has previously nabbed around $4 million in funding from several investors including Dorm Room Fund, MIT delta v, and MassChallenge to scale its operations.

With this new funding, Michael Farid, the company’s CEO and cofounder stated “We’re excited to open more restaurants and further develop our concept and technology to continue establishing our brand within the food community. Just as on day one, we remain singularly focused on delivering an unbelievable meal and experience each time someone visits Spyce.”

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