Fladgate was delighted to advise Ocado Group's venture arm on its investment into UK-based tech start-up, Karakuri.
Reshaping the future of ready-to-eat meals, Karakuri's robotic automation systems cater to bespoke nutritional requirements whilst minimising food waste.
Leading the £7m seed round, Ocado confirmed an equity investment of £4.75m, acquiring 18% of the company and a seat on the board. Other investors included Firstminute Capital, Hoxton Ventures and Taylor Brothers.
The injection of funds will enable Karakuri to continue to develop its technology, bolster its IP base and provide finance to expand the Karakuri team for global growth.
Tim Steiner, Chief Executive of Ocado, said: "Ocado is constantly striving to identify the best and most innovative solutions to provide consumers with the greatest possible value, choice and convenience. Our investment in Karakuri, potentially a game-changer in the preparation of food-to-go, gives us the opportunity to bring the best of innovation to the benefit of our own customers as well as those of our partners."
The Fladgate team was led by corporate partners Grant Gordon and Jamie Hamilton, supported by Diana Mennie (corporate), Michelle Waknine (IP and commercial) and Caroline Philipps (employment).
Head of corporate, Grant Gordon, commented: "We were very pleased to advise Ocado on its investment in Karakuri. This was an exciting transaction for us and a good example of our recent work in venture and growth capital. We wish Ocado the best of luck as it develops its future partnership with Karakuri."
