By Erin HouserPosted May 01, 2019 04:30:54Walgreens is one of a handful of Australian food chains that has secured $500 million in funding in the last year to create new, smarter, and cheaper restaurants.
The investment comes after the chain partnered with Python developer Daniel Paget and his team to develop a “smart restaurant” that will be the basis of a “dumb” restaurant concept.
The new venture is named Piaget Cognitive Development, and will be built in partnership with Australian developer Piagets restaurant company.
“I’ve been thinking about how smart food is,” Paget told The Business Insider.
“You need to think about how you’re going to get food to people, how you want to cook, and you need to take a few things into consideration.”
To do that, Paget said he and his business partner, Daniel Pagets son Alex, had spent a few years working on their own smart food concepts.
“We spent about 10 years trying to get people to eat at our restaurants and we ended up with something that works very well,” he said.
“It’s the same thing with food — the first thing you want is food that’s fresh, healthy, and tastes great.
The rest is up to you.”
Piaget will be using the funds to create the first of its smart food restaurants, which will include a “lounge area” that can accommodate up to 120 people.
The first of the restaurants will be opened in Melbourne in 2018.
“We want to start from the basics,” Pagets said.
“This is the beginning of a very big project.
The restaurant is designed to be a great learning opportunity for people and we want to build a brand that’s really going to bring that to the forefront.”
While Paget is not disclosing the exact cost of the venture, Piagette told The ABC the total investment was around $1.8 billion.
“In terms of funding we have no problem at all,” Pagett said.
Piagettes parent company, Piags Holdings, is based in the US.
Piagets new smart food restaurant concept will be launched in Melbourne, Melbourne, Australia, and Sydney, Australia in the next few years.
The partnership with Piagts parent company was an important one for the chain, Pagets family said.
He said that while they would like to be able to expand the PiagET restaurant concept worldwide, the partnership with Paget’s team has been the most successful for them.
“Our customers have been really enthusiastic,” Pagette said.