Steph Curry’s VC backs AI startup Burnt to modernize food supply chains

Steph Curry’s venture firm Penny Jar Capital led a $3.8 million seed round for Burnt, a Y Combinator‑backed startup that uses AI agents to automate back‑office tasks in the food‑distribution industry. Co‑founder and CEO Joseph Jacob, whose family has decades of experience in seafood logistics, says the technology can handle up to 80% of manual order‑entry work, allowing distributors to keep legacy ERP systems while reducing labor‑intensive processes. Since its launch, Burnt has processed more than $10 million in monthly orders and is working with a major UK food conglomerate, signaling strong early traction for the AI‑driven solution.

Background and Funding

Burnt, a Y Combinator‑originated startup, aims to fix chronic inefficiencies in food‑supply‑chain operations by deploying AI agents that automate tasks traditionally performed by humans. The company announced a seed round of $3.8 million led by Penny Jar Capital, the venture firm founded by NBA star Steph Curry. Additional investors included Scribble Ventures, Formation VC, and several angel backers.

Founder’s Industry Insight

Co‑founder and chief executive Joseph Jacob grew up in a family that has been involved in seafood trade since the 1930s. After working on a shrimp‑processing floor in rural India and later managing large volumes of seafood imports in the United States, Jacob witnessed firsthand the fragmented order‑entry process—orders arrive via email, phone, WhatsApp, faxes, and other channels, then must be manually keyed into outdated ERP systems. He describes the experience as “a necessary evil” for a business with razor‑thin margins.

AI‑First Approach

Rather than replace legacy enterprise software, Burnt layers AI agents on top of existing systems. Its first agent, named Ozai, automates the order‑entry workflow, reportedly handling up to 80 % of tasks that are currently stuck in spreadsheets or old ERP platforms. By doing so, the startup promises to free staff for higher‑value activities such as customer acquisition and upselling.

Early Traction

Since its January launch, Burnt has processed more than $10 million in monthly orders across seafood, specialty goods, and packaged‑food distributors. The company is also piloting its solution with one of the United Kingdom’s largest food conglomerates, a partnership that is already generating six‑figure revenue on a month‑to‑month basis.

Investor Perspective

Penny Jar Capital’s investment thesis focuses on “overlooked” industries where technology adoption lags. The firm sees the two‑decade history of missed software rollouts in food distribution as a massive opportunity for AI‑driven efficiency gains. Curry’s involvement underscores the growing interest of high‑profile investors in niche B2B AI applications.

Team and Execution

The founding team combines deep industry knowledge with technical expertise. Jacob previously worked at Rekki, a Benchmark‑backed B2B marketplace for restaurants, while CTO Chandru Shanmugasundaram has built software for restaurant applications. Chief product officer Rhea Karimpanal, Jacob’s childhood friend and wife, brings a family background in restaurant operations, helping the startup earn trust in a relationship‑driven sector.

Outlook

Burnt’s strategy of augmenting, rather than replacing, existing ERP systems positions it to address a market that has long resisted large‑scale software overhauls. Early customer adoption and significant funding suggest the company is poised to expand its AI‑agent portfolio and capture a larger share of the U.S. food‑supply‑chain market.