CHIPOTLE'S CULTIVATE NEXT FUND INVESTS IN AI SUPPLY CHAIN SOLUTION AND EMERGING FAST-CASUAL CONCEPT

Chipotle's Investment Strategy - Chipotle announced a minority investment in Lumachain and Brassica through its $100 million Cultivate Next venture fund, aimed at supporting companies aligned with its mission to "Cultivate a Better World" and accelerate its growth plans to operate 7,000 restaurants in North America [1] - The Cultivate Next fund, introduced in 2022, focuses on early-stage investments in strategically aligned companies to enhance Chipotle's long-term growth and sustainability goals [1] Lumachain Overview - Lumachain, headquartered in Sydney, Australia, is a minority female-founded company that uses Computer Vision-based AI to improve food production safety, yield, efficiency, quality, traceability, and trust [2][3] - The company's SaaS platform provides real-time tracking of the origin, location, and condition of individual items in the supply chain, reducing waste and increasing efficiency [3] - Lumachain's AI platform also monitors operations inside food production plants to enhance quality, efficiency, and safety [3] Brassica Overview - Brassica is a fast-casual restaurant based in Columbus, Ohio, offering Eastern Mediterranean-inspired cuisine with a focus on wholesome, locally-sourced ingredients [4] - Founded in 2015, Brassica operates six locations and provides a personalized dining experience with signature items like house-made falafel, organic pita, and antibiotic-free meats [4] - The restaurant emphasizes healthy dining options without compromising flavor, featuring a welcoming atmosphere with natural materials and standout architectural details [4] Strategic Alignment with Chipotle - Chipotle's investment in Brassica aligns with its commitment to using real, fresh ingredients and creating craveable food, supporting Brassica's expansion to new markets and locations [5] - The Cultivate Next venture fund portfolio includes other companies like GreenField Robotics, Hyphen, Local Line, Meati Foods, Nitricity, Vebu, and Zero Acre Farms, all contributing to Chipotle's mission of sustainability and innovation [5] Chipotle's Market Position - Chipotle operates over 3,500 restaurants globally as of June 30, 2024, and is the only restaurant company of its size that owns and operates all its locations in North America and Europe [6] - The company is recognized on Fortune's Most Admired Companies 2024 list and Time Magazine's Most Influential Companies, with over 120,000 employees dedicated to providing a great guest experience [6] - Chipotle continues to lead in digital, technology, and sustainable business practices, making its food more accessible while maintaining its commitment to real, fresh ingredients [6]