Piestro

The Future of Artisanal Pizza

Piestro

The Future of Artisanal Pizza

Santa Monica, CA
Food & Beverage
Wavemaker Labs
Our goal is that Piestro will be a robotic pizza shop able to deliver high-quality artisanal pizzas within 3 minutes. Our fully-automated machines are being designed with the aim of allowing for zero contact food preparation, zero food waste, consistent quality, and a much lower cost of operation. With our innovative design, Piestro will be introducing a new economic paradigm for food.

$1,275,481

raised
$1,060,983
previously crowdfunded
628
Investors
$12M
Valuation
$2.56
Price per Share
$1,000.00
Min. Investment
Common
Shares Offered
Equity
Offering Type
$5M
Offering Max
Reg A+
Offering

$1,275,481

raised
$1,060,983
previously crowdfunded
628
Investors
$12M
Valuation
$2.56
Price per Share
$1,000.00
Min. Investment
Common
Shares Offered
Equity
Offering Type
$5M
Offering Max
Reg A+
Offering

Rewards

Get rewarded for investing more into Piestro:

$1,000+
Investment
StartEngine Owner’s Bonus
This offering is eligible for the StartEngine Owner’s 10% Bonus program. For details on this program, please see the Offering Summary section below.
$1,000+
Investment
Tier 1 perk
$100 Piestro credit for reservation holders
$2,000+
Investment
Tier 1 Perk (Live)
Investors that invest at least $2,000 in this offering will receive a 5% bonus.
$2,500+
Investment
Tier 2 perk
$200 Piestro credit for reservation holders
$5,000+
Investment
Tier 3 perk
$500 Piestro credit for reservation holders
$5,000+
Investment
Tier 2 Perk (Live)
Investors that invest at least $5,000 will receive a 10% bonus.
$10,000+
Investment
Tier 3 Perk (Live)
Investors that invest at least $10,000 will receive a 15% bonus.
$20,000+
Investment
Tier 4 Perk (Live)
Investors that invest at least $20,000 will receive a 20% bonus.

Reasons to Invest

  • Backed by lead investor, Wavemaker Partners, a global Venture Capital fund with $500M AUM and Wavemaker Labs, a food automation focused venture studio.
  • A seasoned team of food and robotics expertise made up of executives and founders from Miso Robotics, Kitchen United, SBE Entertainment Group, Graze Autonomous Mowers, and Wolfgang Puck.
  • Serving the most popular food in the US, pizza ($46.3B), with a dual go-to-market approach: operating our own Piestro units and providing existing pizzerias with the ability to white label Piestro units to grow their market share for a fraction of the cost.


“A revolutionary high quality pizzeria without the high operational costs”

*The photos included are of Piestro's first functioning prototype. The Piestro pizzeria is not currently available on the market and in development.

The Problem


Full-service pizza restaurants are expensive to run and have slim margins

The profit margins of a full-service restaurant are extremely low, at approximately 5-10%, due to high real estate and labor costs. According to a survey from Restaurant Owner, restaurant startup costs range anywhere between $175,500 and $750,500, with the median cost at $375,000. Restaurant opening costs have a mean of about $450 per square foot. Additionally, most restaurants have high labor costs due to labor shortage, high turnover rates and rising wages. In fact, it can cost over $3,500 to hire and train a new staff member, so employee retention is crucial. Labor costs for pizza restaurants average at about 31.3%.

The Solution


Piestro: A revolutionary, high quality pizzeria without the high operational costs

Piestro provides a high quality artisanal pizza experience and solves the two biggest problems in traditional restaurants: expensive labor and real estate costs. A Piestro Pizzaria is roughly the size of two vending machines and is fully autonomous, requiring no employees to operate, as opposed to the average pizza restaurant’s 9.5 employees. While the time to launch a traditional restaurant is about 9-12 months, with Piestro, we believe based with our initial prototype that an existing pizza chain can have our pod up and running within two weeks, subject to regulatory approval, at a cost of only $50,000, which is about ⅙ of the median total restaurant startup cost.

GIF

*The photos included are of Piestro's first functioning prototype. The Piestro pizzeria is not currently available on the market and in development.

*The photos above are of Piestro's first functioning prototype. The Piestro pizzeria is not currently available on the market and in development.

The average hourly and annual wages of a restaurant cook were $13.06 and $27,170 in 2018, respectively. For typical restaurants that employ 9.5 employees, payroll costs would be a minimum of $271,700 annually. Piestro requires no labor to operate as it is fully automated, and only needs a part-time employee to service and refill ingredients periodically, which is expected to cost approximately $7,500 per year based on our initial prototype.

*Based on management's evaluation of available information regarding automation in fast casual restaurants.

The Market


Pizza is the most popular food in the US and chain pizzerias statistically take preference

Pizza is the #1 most popular food in the US and on any given day, about 13% (or 1 in 8) of Americans eat pizza. Piestro’s target market is millennials and generation Z. According to a recent study, 32% of millennials and 41% of Gen Z-ers are willing to pay premium prices for sustainably sourced ingredients like ours. Pizza is also popular on social media, which means it resonates with our target customers. In fact, the hashtag “#pizza” has been used 49.6 million times on Instagram. As per a study by Gousto, a British meal kit retailer, Pizza is the #1 most popular food on Instagram with 37.9M posts. 

The Global Pizza Market was worth $154.8B in 2019 and is projected to hit $233.3B by 2023. The US accounted for a 30% market share and was worth $46.3B. The US market is projected to hit $53.8B in 2023, with a 3.9% annual growth rate from 2019 to 2023. Chain pizzerias accounted for 60% of the pizza market with $27.8B in revenue and 3.17% year over year sales growth, while independent pizza restaurants earned $18.5B in revenue, and held a 40% market share and experience -1.33% year over year sales growth. (Source: PMQ Magazine)

Our Traction


Backed by a venture capital fund with a proven track record investing in robotics companies 

Piestro is a Wavemaker-backed company and was incubated by Wavemaker Labs, providing it access to seed capital and an experienced team of engineers and business professionals. This means Piestro has access to top engineering talent and tools without burning high amounts of cashflow in the early stages of the company. Additionally, Piestro is able to leverage the administrative and business development teams at Wavemaker Labs for hiring, raising capital, building partnerships and finding customers.  

To date, Wavemaker Labs has empowered Piestro to build its first prototype, helped source its executive and operating team, retain several advisors in the robotics and restaurant industries, and begin conversations with several potential partners and customers whom we hope to announce during this campaign.

What We Do


Robotics-run pizza shops that provide customers with restaurant-quality pizzas in minutes

Piestro is an automated robotic pizza shop that delivers high-quality artisanal pizzas within 3 minutes. Because robots don’t sleep, we are able to keep our shops open 24/7 and customers have the option to order ahead, so that pizza is ready when they arrive.

On vending machines, we don’t consider ourselves to be part of this ‘trend.’ Piestro is truly an automated pizzeria – we aren’t frozen food, and we don’t compromise on taste for speed. We are a true producer of artisanal pizza with restaurant level quality that past machines simply didn’t deliver in terms of key components like flavor, texture and ingredients.

*The photos included are of Piestro's first functioning prototype. The Piestro pizzeria is not currently available on the market and in development.

With three decades of food and robotics expertise, we have designed Piestro to be able to cook restaurant-quality pizzas, using the highest quality ingredients, right in front of you - a fun and entertaining experience for the whole family! Piestro is currently in the prototype and development phase.

*The above photo is of Piestro's first functioning prototype. The Piestro pizzeria is not currently available on the market and in development.

The Business Model


From pizzeria to white-label partnerships

  • Phase 1: We sell Pizzas directly to customers, freshly made by our very own Piestro units
  • Phase 2: Selling white-labelled Piestro units to pizza chains looking to expand their footprint with minimal capex and risk

How We Are Different


Revolutionary technology to deliver high quality pizza at fast food prices

Piestro eliminates expensive real estate and labor costs so that we can focus more on the quality of our ingredients, and deliver artisanal pizza at fast food prices, in as little as 3 minutes!

*Profit margin based on CEO’s experience in the pizza industry

*Margins may vary depending on the product being sold (direct selling and/or "powered by piestro").

The Vision


White Label Pizza Experiences with regional and nation-wide pizza chains

*The above image is of Piestro's first functioning prototype. The Piestro pizzeria is not currently available on the market and in development.

*Piestro is not in the above locations and does not have contracts or agreements for the units in the above locations, but represent a future vision for the company. 

Our Team


A team of experienced robotics engineers with a track record of building multi-million dollar companies

Our founder and CEO, Massimo Noja De Marco, is the co-founder of Kitchen United, which raised $50M at a $140M valuation (Source: Kitchen United Pitchbook Profile). De Marco was named one of the top 10 restaurant innovators in National Restaurant News power list. De Marco’s company, Wavemaker Labs, is a corporate and robotics innovation venture studio with a strong track record of building commercially successful robotics companies like Miso Robotics and Graze.


Our team of experienced robotics engineers helped build Miso Robotics and is ready to tackle our next venture with Piestro!

Why Invest


Join our successful team as we blend and shape the future of the robotics and fast-food pizza industry

Our team believes that crowdfunding provides the opportunity to democratize an otherwise private asset class that was previously reserved for high net worth individuals. Piestro is a consumer facing business, so we are crowdfunding to garner excitement and support directly from our potential end-customers. 

The high touch nature of equity crowdfunding campaigns allows us to connect with our customers and take into account their input and opinions throughout the development process, so that we can continue to improve our product and end-to-end customer experience.

AN OFFERING STATEMENT REGARDING THIS OFFERING HAS BEEN FILED WITH THE SEC. THE SEC HAS QUALIFIED THAT OFFERING STATEMENT, WHICH ONLY MEANS THAT THE COMPANY MAY MAKE SALES OF THE SECURITIES DESCRIBED BY THE OFFERING STATEMENT. IT DOES NOT MEAN THAT THE SEC HAS APPROVED, PASSED UPON THE MERITS OR PASSED UPON THE ACCURACY OR COMPLETENESS OF THE INFORMATION IN THE OFFERING STATEMENT.


THE OFFERING CIRCULAR THAT IS PART OF THAT OFFERING STATEMENT CAN BE FOUND HERE.


THE OFFERING MATERIALS MAY CONTAIN FORWARD-LOOKING STATEMENTS AND INFORMATION RELATING TO, AMONG OTHER THINGS, THE COMPANY, ITS BUSINESS PLAN AND STRATEGY, AND ITS INDUSTRY.  THESE FORWARD-LOOKING STATEMENTS ARE BASED ON THE BELIEFS OF, ASSUMPTIONS MADE BY, AND INFORMATION CURRENTLY AVAILABLE TO THE COMPANY’S MANAGEMENT.  WHEN USED IN THE OFFERING MATERIALS, THE WORDS “ESTIMATE,” “PROJECT,” “BELIEVE,” “ANTICIPATE,” “INTEND,” “EXPECT” AND SIMILAR EXPRESSIONS ARE INTENDED TO IDENTIFY FORWARD-LOOKING STATEMENTS, WHICH CONSTITUTE FORWARD LOOKING STATEMENTS. THESE STATEMENTS REFLECT MANAGEMENT’S CURRENT VIEWS WITH RESPECT TO FUTURE EVENTS AND ARE SUBJECT TO RISKS AND UNCERTAINTIES THAT COULD CAUSE THE COMPANY’S ACTUAL RESULTS TO DIFFER MATERIALLY FROM THOSE CONTAINED IN THE FORWARD-LOOKING STATEMENTS.  INVESTORS ARE CAUTIONED NOT TO PLACE UNDUE RELIANCE ON THESE FORWARD-LOOKING STATEMENTS, WHICH SPEAK ONLY AS OF THE DATE ON WHICH THEY ARE MADE.  THE COMPANY DOES NOT UNDERTAKE ANY OBLIGATION TO REVISE OR UPDATE THESE FORWARD-LOOKING STATEMENTS TO REFLECT EVENTS OR CIRCUMSTANCES AFTER SUCH DATE OR TO REFLECT THE OCCURRENCE OF UNANTICIPATED EVENTS.


WHILE THE COMPANY HAS SIGNED A QUOTATION AGREEMENT TO TRADE THE SECURITIES OFFERED ON STARTENGINE SECONDARY’S NEW ALTERNATIVE TRADING SYSTEM (THE “ATS”), A COMPANY WHICH INTENDS TO BE QUOTED ON THE MARKETPLACE WILL BE SUBJECT TO CERTAIN REQUIREMENTS WHICH THE COMPANY MAY OR MAY NOT BE ABLE TO SATISFY IN A TIMELY MANNER. EVEN IF A COMPANY IS QUALIFIED TO QUOTE ITS SECURITIES ON THE MARKET, THERE IS NO GUARANTEE AN ACTIVE TRADING MARKET FOR THE SECURITIES WILL EVER DEVELOP, OR IF DEVELOPED, BE MAINTAINED.  YOU SHOULD ASSUME THAT YOU MAY NOT BE ABLE TO LIQUIDATE YOUR INVESTMENT FOR SOME TIME OR BE ABLE TO PLEDGE THESE SHARES AS COLLATERAL.


Updates

Introducing Powered by Piestro

3 days ago

Piestro’s business model is based on a dual go-to-market strategy. We’ve laid out a plan to deploy and operate our own automated pizzerias, as well as work with established brands to grow their businesses through our partnership model, Powered by Piestro

What it is: Through Powered by Piestro, existing pizza chains looking to expand their footprint can access a uniquely flexible and highly economical way to grow their business. Through our white-labeled offering, partners customize their pods to reflect their own brand and collaborate with our culinary experts to ensure they'll be able to offer consumers a product that is 100% authentic to them while being 100% Powered by Piestro. 

Why it’s more relevant than ever: Restaurants across the US are experiencing acute labor shortages and high turnover rates (source). Piestro’s fully automated robotics pizzerias require just one part-time employee to operate and can be flexibly deployed into new markets. 

What’s next: We’re already getting started! Exciting Powered by Piestro developments are in the works. Continue to follow our campaign to be the first to know as we release updates in the coming weeks!