• Sat, 25 May 2019, 09:35 AM
  • All times are UTC
  • Edition:
    International
Link copied

American restaurant chain Sweetgreen plans blockchain push following $200M funding

Thu, 15 Nov 2018, 10:58 am UTC

Sweetgreen, an American fast casual restaurant chain, has raised $200 million in its latest round of financing led by Fidelity Investments.

This latest round brings Sweetgreen’s total funding till date to approximately $365 million and values the company at over $1 billion. The company said that the funding will be used towards the development of a new food platform with expanded menu categories and innovative retail formats.

"As a company we are focused on democratizing real food,” said Jonathan Neman co-founder and CEO of sweetgreen. “Our vision is to evolve from a restaurant company to a food platform that builds healthier communities around the world.”

In its press release, the company revealed its plans for digitization, blockchain push, and expansion into new markets, among other things.

Sweetgreen, which has more than 1 million people on its digital platform and processes nearly 50 percent of orders through its app or online platforms, gives high importance to digitization. It said that software focused on personalization would help to meet customers growing demand for easily accessible, real food.

The company has also announced plans to leverage blockchain technology in order to enhance supply chain process and improve visibility and transparency.

“Sweetgreen views blockchain as the most viable solution available to enable radical transparency at a systematic level, which in turn can create better tasting produce and insights around each ingredient from seed to restaurant,” it said.

<Copyright © TokenPost. All Rights Reserved. >

The commenting service is available only after having logged in.
More
  • Bitcoin (BTC) $8,023.96 (+0.81%)
  • Ethereum (ETH) $252.70 (+0.96%)
  • XRP (XRP) $0.386200 (+0.48%)
  • Bitcoin Cash (BCH) $409.40 (-0.54%)
  • Litecoin (LTC) $102.50 (+8.41%)
  • Bitcoin (BTC) $8,023.96 (+0.81%)
May 24, 2019 (Friday)
12:18
Crypto Technicals: ETH/USD retraces above 1H 200-SMA, 'Hammer' on daily charts signals further gains
10:50
German engineering giant Bosch trials Ethereum blockchain
10:39
Crypto Technicals: BTG/USD grinds higher along 21-EMA, breakout at 61.8% Fib (25.74) will accentuate gains
09:33
Bank of Russia to review proposal on gold-backed cryptocurrency
09:17
Blockchain software firm Unstoppable Domains raises $4M from Draper Associates, Boost VC
08:45
Crypto Technicals: LTC/USD bounces off 21-EMA support, next bull target $109
08:45
Robinhood Crypto is now in New York
07:27
Facebook to launch its cryptocurrency 'GlobalCoin' in Q1 2020: Report
07:25
California resident sued for alleged $26M crypto Ponzi scheme
06:33
AT&T teams up with BitPay to become the first telecom to accept cryptocurrency payments
06:16
Rep. Swalwell accepting bitcoin donations in bid for US presidency
06:10
Grayscale receives FINRA approval to open Ethereum Trust to individual investors
05:12
Indian telco Airtel selects IBM for blockchain-based pan India anti-spam call solution: Report
05:07
Binance CEO CZ seeks compensation for reputational damage from Sequoia
04:06
Overstock.com’s blockchain subsidiary signs MOU with Lusaka city to develop land governance platform
03:57
Toyota, University of Tokyo, TRENDE to start testing blockchain-based electricity trading solution
03:14
Russia's NSD to roll out security token blockchain in June
May 23, 2019 (Thursday)
12:15
Crypto Technicals: IOT/USD holds 21-EMA support, retrace till 0.3185 (200-DMA) likely on break below
12:11
Coinstar extends bitcoin buying service to 21 US states
11:38
Crypto Technicals: BTC/USD bounces off session lows with 'Hammer' formation, bias neutral
Subscribe to the TokenPost newsletter!
Don't show me this again today.
Back to top
Copyright ⓒ TokenPost. All Rights Reserved.
PUBLISHsoft