Well, no, it's not just an automatic wok - there's a consumer experience around an automatic wok. Integrating everything so that there's no human involved whatsoever is a bit more difficult than ordering an automatic wok from Alibaba. If you're trying to serve freshy-cooked meals from a vending machine, there is so much more going on than just the heating elements.
Just to pick one: the supply chain is a real issue. Getting fresh ingredients into the machines, keeping them running, performing maintenance... all of that requires a well-tuned supply chain, knowledge of food sources, etc., especially since Spyce is targeting an upscale "fast-casual" (~healthy) demographic.
As a disclaimer I was pitched by this team in 2015-2016, and was pretty convinced that they weren't facing much local competition.
Just to pick one: the supply chain is a real issue. Getting fresh ingredients into the machines, keeping them running, performing maintenance... all of that requires a well-tuned supply chain, knowledge of food sources, etc., especially since Spyce is targeting an upscale "fast-casual" (~healthy) demographic.
As a disclaimer I was pitched by this team in 2015-2016, and was pretty convinced that they weren't facing much local competition.