Restaurant-Tech Startup Presto Going Public Through $1 Billion SPAC Merger
- ByStartupStory | November 11, 2021
Presto, a restaurant-technology firm, will be valued at around $1 billion when it goes public through Ventoux CCM Acquisition Corp., a special purpose acquisition company (SPAC), according to the companies.The Ventoux CCM SPAC, which is run by former hospitality executives and funded by investment firm Chardan Capital Markets LLC, is led by many former hospitality executives and has roughly $170 million.
Through kiosks and tablets that allow guests to pay and order at their tables, Presto’s technology helps to automate restaurants and improve the whole eating experience. Customers can order at drive-throughs and other locations by speaking to a device using speech recognition, while restaurant operators can utilise computer vision and analytics to assist optimise their everyday operations.
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