Under the MOU, Soup and XXT will form a joint venture to provide smart kitchen solutions and equipment including related designs to clients, as well as promote, sell and lease smart equipment and solutions to kitchens. The collaboration will tap into Soup’s experience in the handling and preparation of Asian food, as well as its knowledge of the markets in Singapore and Southeast Asia, while leveraging XXT and its parent company’s AI-powered solutions.
Soup Holdings announced, on Aug 13, that it intends to diversify into smart kitchen solutions using artificial intelligence (AI) to help with Singapore’s manpower crunch and rising costs in the food and beverage (F&B) sector, specifically businesses catering to schools, enterprises and government agencies.
To do so, the company, through its wholly-owned subsidiary, has signed a memorandum of understanding (MOU) with Xi Xiang Technology Pte Ltd (XXT). XXT is controlled by Shanghai Xixiang Yixiang E-Commerce Co. Ltd (Shanghai XYE), an e-commerce and robotics company which carries out research and development, produces, operates and maintains smart kitchen equipment in China.
