Steph Curry’s VC Firm Backs AI Startup to Transform Food Supply Chains

In what would be a major marriage of sports celebrity and engineering creativity, PennyJar Capital — the early-stage venture capital firm founded by basketball star Steph Curry alongside Bryant Barr — is backing a young startup aiming to revolutionize food distribution in America using AI.

The company’s $3.8 million seed financing round, announced September 25th, 2025, is a significant step toward modernizing an industry that has long been resistant to technological progress.

The Problem: A Fractured and Outdated Industry

The U.S. food distribution industry, valued at over $1 trillion, has long struggled with inefficiencies:

• Orders arrive through multiple channels — emails, phone calls, text messages, and even faxes.
• These orders require manual entry into outdated enterprise resource planning (ERP) systems.
• Compliance and inventory management often rely on cumbersome spreadsheets, leading to errors, bottlenecks, and higher costs.
• These challenges disproportionately affect small and medium-sized distributors, who operate on thin margins.

Burnt’s Answer: AI Agents for Automation

Burnt aims to solve these inefficiencies through AI agents that automate back-office supply chain work. Unlike many legacy enterprise software firms, which often require full system overhauls, Burnt:

• Layers AI onto existing infrastructure, avoiding costly system replacements.
• Enables companies to tap into efficiencies introduced by AI without disrupting current operations.

Key achievements of Burnt so far:

• Lead AI agent Ozai can handle up to 80% of manual order entry work.
• Since its January launch, Burnt has processed $10 million in monthly orders.
• The startup is already generating six-figure revenues.
• Clients span seafood, specialty products, and packaged food sectors.
• A UK-based food conglomerate is in the process of implementing Burnt’s workflow system.

The Vision Behind Burnt

Joseph Jacob, Burnt’s co-founder and CEO, brings decades of industry experience:

• Raised in a family with deep ties to the seafood supply chain (his great-grandfather exported shrimp from India to the U.S. in the 1930s).
• Oversaw large-scale seafood imports and experienced the shortcomings of traditional systems firsthand.

Jacob’s frustration with these inefficiencies led to the creation of Burnt:

“In a business with razor-thin margins, you cannot succeed without good supply chain management. We tested several software solutions but failed with two major deployments. That’s when I knew I wanted to build software for this, not just work in it.”

Burnt is described as “an AI-powered solution to reduce your time learning and finding inspiration.”

PennyJar Capital’s Strategic Investment

PennyJar Capital sees significant potential in Burnt’s approach:

• The firm specializes in backing founders tackling problems in underappreciated industries.
• Food distribution, an industry behind on technology adoption, aligns with their investment philosophy.

For PennyJar Capital, the investment is more than capital:

• It enables breakthrough solutions in long-standing industries.
• Offers credibility and visibility for Burnt’s mission.

Broader Implications for the Industry

Burnt’s approach could reshape the food supply chain sector:

• Reduces errors, improves compliance, and lowers operational costs.
• Could help alleviate food waste, which affects up to 40% of food produced in the U.S.
• May increase access to fresh produce.

Burnt’s model may also serve as a template for other industries facing similar challenges:

• Demonstrates that innovation doesn’t always require a full system overhaul.
• Enhancing existing systems with AI can deliver meaningful results.

Looking Ahead

With funding from PennyJar Capital and other investors, Burnt is positioned for growth:

• Plans to expand its customer base.
• Aims to refine AI agents to handle an even broader range of supply chain tasks.

As AI continues to transform industries, Burnt’s focus on food logistics could deliver:

• Financial returns
• A more efficient and equitable global food system