After raising $120 million from Google’s venture capital arm and other backers, Juicero Inc. launched its juice machine that retails for $400. Home users also pay for individual juice packs that are delivered weekly. However, investors have been surprised to learn that Juicero bags could be manually squeezed at the same rate to yield the same amount of juice.
A person familiar with the company said Juicero is aware that the packs can be squeezed by hand, but many people would prefer to use the machine for more consistency and less mess. The juicer also reads a QR code printed at the back of each produce pack and checks the source against an online database to ensure the product hasn’t expired or been recalled.
Some investors are also reportedly frustrated that the machine is bigger than what founder Doug Evans initially proposed. However, one investor defended Juicero by saying it still provides a platform for a new model of fresh food delivery, reports Bloomberg. Full Story