Bkon, creator of a patented extraction process for beverage production, has secured a $3 million Series A investment led by aseptic beverage packaging firm, GoodWest Industries.
US-based Bkon’s RAIN (Reverse Atmospheric Infusion) technology creates natural beverages using ‘any fruit or botanical with any liquid’, and is said to work at any temperature.
According to Bkon, the new funding will support its commercialisation efforts in North America and internationally.
“The industry demand for RAIN-brewed cold coffee has grown significantly this year as a result of our breakthrough in delivering unprecedented flavour profiles in a shelf-stable format,” said Dean Vastardis, CEO and co-founder of Bkon.
“With this investment, Bkon is expanding its production capacity and enhancing its extraction capabilities so brands can commercialise higher-strength coffee concentrates with RAIN’s proprietary flavour advantages.”
Despite the pandemic-related disruption, Bkon says that it grew its cold coffee brewing business by 300% in 2020 with 16 regional and national specialty coffee brands, including Whole Foods Market-owned Allegro Coffee.
The next generation of Bkon’s Storm system for industrial-scale RAIN brewing will reportedly quadruple the output of Bkon’s facility and extend its licensing business for international expansion.
“In all my years of experience, I have never witnessed a company execute its commercialisation plans with the vigour and win record like Bkon,” said Rick Lawlor, executive chairman of GoodWest Industries and a new addition to the Bkon board of directors.
“GoodWest was eager to lead this investment in order to accelerate Bkon’s continued growth.”
© FoodBev Media Ltd 2020
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