Sweetgreen becomes a Unicorn, plans to explore blockchain for supply chain
November 15, 2018, 12:34PM EST
1 min read
The salad chain Sweetgreen has raised $200 million in Series H funding from Fidelity and others that values the company at more than $1 billion, officially Unicorn territory in Silicon Valley parlance. The latest funding brings the company to $365 million in total capital raised to date.
According to co-founder and co-CEO Jonathan Neman in an interview with Forbes, the company wants "to go beyond a food company and become a platform. We want to take all the things we’ve built for ourselves—our best-in-class supply chain, operating model, our ordering channel, etc.—and use that to expand out into other food categories and expand the platform closer to customers’ homes.”
Sweetgreen has historically been on the cutting edge of financial technology, having gone cashless in 2017. As part of the technology platform expansion, Sweetgreen is exploring the use of blockchain technology in order to "improve supply chain visibility and traceability." (Source: Forbes)
A trio of political parties in Germany struck an agreement this week that will see them assemble a national governing coalition. Part of that agreement, according to the German-language text, includes a call for European countries to work together to monitor activities in the crypto sector.