ROLO Robotics Raises $3.45 Million in Oversubscribed Seed Round
ROLO Robotics, a Singapore-based food robotics company, has raised $3.45 million in a Seed round led by BEENEXT.
The round saw participation from Blueprint Ventures, TIS Japan, Seedstars, A2D Ventures, SUTD Ventures, Antler, and Lotus One Investment, with continued support from strategic angels Valentin Schillo and Gilbert Rodrigues.
Global Labor Shortages Drive Up Consumer Prices
Labor shortages are a growing global problem, driving up consumer prices. Across developed markets, labor shortages, soaring wages, and tightening margins are key challenges for food operators.
- In Singapore, F&B wages have risen 40-50% over five years.
- Turnover exceeds 100% annually.
- Rising rents, food costs, and compliance costs further strain profitability.
Margins are shrinking, yet demand for variety and optionality continues to soar.
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Author's summary: ROLO Robotics raises $3.45 million.