Karakuri, which was founded in 2018, is lining up the accountancy firm RSM to act as administrators after failing to secure new funding, Sky News learns.
In a statement issued to Sky News on Sunday, a Karakuri spokeswoman said:"After extensive negotiations with potential investors and acquirers to explore all possible options for the business, we're sorry to report that Karakuri has been unable to secure the funding required to continue our developments and bring our products to market."As a result, as of Monday, we will begin to wind down our operations and are working with external advisors on the next steps.
Ocado bought a near-20% stake in Karakuri in 2019 for £4.75m - a modest sum which nevertheless reflected the online grocer's hopes that Karakuri's technology could serve as a major asset.Announcing the investment, Ocado co-founder Tim Steiner described its kit as"potentially a game-changer in the preparation of food-to-go".
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