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Venture Capital - Tuesday, November 13, 2007

White Man's Burden: 'Burrito' Chain Boloco Raises $10M

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We have been prompted for another chapter in our pro-burrito/anti-wrap rants. We wouldn't mind wraps so much if their makers didn't insist on calling them burritos. Sorry but something that includes teriyaki sauce, caramelized onions, broccoli, carrots and brown rice, kept together by a pinkish wrap has no relation to the august burrito. The burrito was pioneered by Mexican Americans who knew we wanted to be filled up for $3.50, while the wrap was launched by suburbanites who watch too much FoodTV.

Our rant was brought on as Boston-based wraps and smoothie maker Boloco (aka Stellar Restaurant Group) has raised $10M in funding from Winona Capital Management. The company has about 12 stores around Boston. We learn that the company was founded in 1997 as "The Wrap." But it rebranded to Boloco, adding the tag 'Inspired Burritos' "to better reflect its focus on burritos that are more than Mexican in origin."

One of the company's founders notes "We like to think of them more as 'Irreverent Burritos.' These burritos want to be a little bit different." Give us a break.

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