Circus and Campo want to automate the food market. $CA1 (-0,73 %)
The Hamburg-based provider of AI solutions and autonomous robotics in the food service market, Circus, is planning to acquire its German industry colleague Campo Group. A corresponding term sheet has already been signed. Campo also specializes in AI software and robotics solutions for the retail and mobility sectors. The acquisition is being made as part of a non-cash capital increase and aims to expand Circus' AI and automation solutions by integrating Campo's technology, as the companies explain the deal logic.
Circus CEO Nikolas Bullwinkel aims for "full autonomy in service processes" and adds: "Campo brings valuable industry knowledge in the retail and food service market to the company and strengthens our vision of AI-based autonomy." Carlo Caldi, Managing Director of Campo Group, will join Circus as Managing Director Europe after closing of the transaction and will drive the expansion in the mobility and retail sectors. Legal advice for Circus was provided by YPOG and Heuking
I still think that's gross nonsense. An oversized Thermomix doesn't need AI - that's bullshit bingo in my eyes. And apart from a lot of promises, I haven't seen much else that I can count.
Don't get me wrong: If that actually worked - cool thing. But I don't think it will even come close to working as presented.
I could be wrong. But I wouldn't invest in something like that.
- Circus $CA1 (-0,73 %) wins Mangal Kebap and Lukas Podolski for the planned introduction of 2,400 autonomous food robots in Germany and Europe from 2025
- First AI robotics-based project in this area worldwide with an estimated cumulative sales potential in the order of sales potential in the order of EUR 400 million for the Circus Group
On the business model: "Our business model has a hybrid structure. We sell both the hardware to operators or partners as well as supplementary services. This includes our self-developed CircusOS operating system, which we offer via a classic software-as-a-service model, as well as gastronomic concepts that are available via license fees. The list price of a robot is currently between 150,000 and 250,000 euros, depending on the configuration. By licensing our software, in addition to the respective one-off revenues from the sale of the cooking robot hardware, we will in future be able to generate additional recurring revenue per robot of between ten and twenty thousand euros per month. per month.
For our customers, this is extremely attractive in terms of price, especially when you consider that normal commercial kitchen equipment such as exhaust air systems, steam cookers and ovens are significantly more expensive - and that we can cover the personnel of up to 50 employees that were previously necessary but often not sufficiently available on the market. staff of up to 50 employees, which is often not available on the market."
Sounds great, doesn't it? 🤔 I'm just wondering whether and how you want to grow into the valuation. A market capitalization of > €500 million and sales of €1.1 million in 2023 with a loss of > €10 million. In other words, a whole 5-7 machines were sold in 2023. Too hyped for me right now, but if they do it right with potential. Conclusion: currently too "expensive"
