By Lea Mira, RTN staff writer - 1.7.2025
Presto Automation, a leading innovator in foodservice artificial intelligence, has entered a new phase after selling its assets to a venture capital group led by Remus Capital. The transaction, completed in December, includes an $18 million capital infusion to support the company’s growth and transition to private ownership. The company, now renamed Presto Phoenix, will maintain its team, customers, and flagship Presto Voice platform while focusing on expanding its voice AI technology for the restaurant industry.
This development follows a challenging period for Presto Automation. The company had shifted its focus from its tabletop tablet business to prioritize drive-thru voice AI solutions, a move that impacted revenue. After defaulting on a loan from Metropolitan Partners, the business was put up for sale. The acquisition by Remus Capital, alongside other stakeholders, provides a more stable foundation for the company to move forward.
Under the leadership of CEO Gee Lefevre, Presto Phoenix aims to leverage the new capital to drive its voice AI solutions. The technology, designed to automate drive-thru order-taking, offers benefits such as increased accuracy, improved customer satisfaction, and operational efficiency. Current customers include Carl’s Jr./Hardee’s and Taco John’s. The company plans to accelerate its market expansion efforts, with key discussions underway for new pilot programs with major brands.
Voice AI technology is increasingly seen as a critical tool for quick-service restaurants, and Presto Phoenix is positioned to compete in a crowded market. Competitors such as ConverseNow and Valyant AI have also been active, with ConverseNow recently acquiring Valyant AI. Despite the competition, Presto Phoenix benefits from a combination of technical expertise and a focused strategy. Remus Capital CEO Krishna Gupta highlighted the company’s position as one of the largest American drive-thru voice AI providers with a strong capital base.
With its renewed focus and financial backing, Presto Phoenix is committed to providing scalable, efficient solutions for drive-thru operators. By addressing industry challenges like order accuracy and customer experience, the company is working to meet the needs of an evolving market. CEO Gee Lefevre described the transition as an opportunity to reestablish the business and strengthen its position in the industry. The company is optimistic about the potential for its AI-driven technology to improve operations and support its growth ambitions.
