NBA Star Stephen Curry Adds Another Win Off The Court As Penny Jar Capital Fuels Burnt's $3.8M AI Push Into Food Industry

Company Overview - Burnt is a San Francisco-based startup that has raised $3.8 million in seed funding led by Penny Jar Capital, with participation from Scribble Ventures, Formation VC, and angel investors [2][4] - The company aims to develop AI-powered automation tools to address inefficiencies in the food supply chain, which is currently reliant on outdated systems requiring manual data entry [2][4] Industry Context - The food industry is valued at approximately $9 trillion, with the food distribution sector alone accounting for around $300 billion [4] - The current operational challenges in the food supply chain involve significant manual labor, with processing a single sales order taking about 10 minutes, leading to lost productivity [4] Technology and Impact - Burnt's platform automates the order processing by capturing data from emails, voicemails, and spreadsheets, significantly reducing processing time from 10 minutes to mere seconds [5] - The technology is currently processing over $10 million worth of orders monthly for various customers, including food distributors in meat, seafood, and specialty foods [6]