Presto Expands International Presence

SAN CARLOS, Calif., and BANGALORE, India, July 11, 2023 (GLOBE NEWSWIRE) — Presto Automation Inc. (NASDAQ: PRST), one of the largest drive-thru automation technology providers in the hospitality industry, today announced its expansion into India, with the formation of an Indian entity and a 50-person team focused on product development and engineering.

“We have a tremendous opportunity to continue leading the way in the restaurant industry with the development and delivery of innovative AI software products – both Voice and Touch – with scalable, and cutting-edge technology,” said Krishna Gupta, Chairman and Interim CEO of Presto. “India has a well-deserved reputation as a global technology hub, and our ability to leverage the market’s talent availability and thriving technology ecosystem is key to expanding Presto’s potential, and our strategy to continue delivering the industry-leading AI platform for restaurant automation. The India team will further our capabilities on both of our product lines.”

In addition to software and product development, the expansion further establishes Presto’s global presence, allowing the company to expand into international markets. The move also helps with efficiency by expanding the Company’s hours of operations to increase the availability for product and IT support for customers.

Presto recently announced a partnership with CKE Restaurants, parent of Carl’s Jr and Hardee’s, to use Presto Voice™ to automate voice ordering at participating drive-thru locations nationwide. CKE joins Checkers and Rally’s and Del Taco as leading customers using Presto Voice. Presto Voice uses advanced AI techniques, including large language models (LLM), to accurately take orders from customers in a conversational manner, leading to labor savings and higher revenue for restaurant customers.

About Presto Automation Inc.

Presto (NASDAQ: PRST) provides enterprise-grade AI solutions to some of the nation’s largest hospitality brands. Presto Voice™, its industry-leading automation and voice AI technology, improves order accuracy, reduces labor costs, and increases revenue for superior drive-thru and dine-in experiences. With over $18 billion in payments processed, Presto is one of the largest labor automation technology providers in the industry. Spun out of MIT more than a decade ago, Presto is headquartered in Silicon Valley and counts among its customers several of the top 20 restaurant chains in the United States.

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