Jay-Z is investing in a pizza truck firm that is run by robots and aims to revolutionize the food sector.
Jay-Z’s VC Firm Invests In Stellar Pizza
According to a news release, he backed a food truck called Stellar Pizza, which uses robotic technology to produce 420 pizzas daily and cook a single pie in under five minutes. The artist-turned-businessman raised $16.5m through his VC firm, Marcy Venture Partners (MVP).
The food truck was built to serve a quality meal on a budget by eliminating the need for expensive retail space and personnel. Company launch coincides with ongoing difficulty in retaining staff in the food service industry. The U.S. Chamber of Commerce reports that since July 2021, the industry has had the highest constant leave rate of any in the country at 5.4%. This is mostly because of the historically low earnings in the sector and the increase in telecommuting opportunities.
Benson Tsai, Brian Langone, and James Wahawisan, the founders of Stellar Pizza, all worked at SpaceX previously.
“What we’re trying to do is very hard; I needed to recruit the best and the brightest to develop a mobile pizza machine that is basically a spaceship on wheels,” Tsai says. “I can’t even count the number of pizzas.”
Jay-Z invests $16.5 Million into robot-powered restaurant Stellar Pizza 💰🍕 pic.twitter.com/WaJ3KsecV8
— Daily Loud (@DailyLoud) October 5, 2022
It has been announced that this upcoming academic year will see the debut of Stellar Pizza at the University of Southern California, a pizza joint that will also offer delivery service.
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