Oregon-based cold brew coffee manufacturer Riff has closed a $2.5 million seed funding round with investments from 35 people, including American footballer Vernon Davis and former president of Anheuser-Busch, Dave Peacock.
The company says that it is working to utilise 100% of the agricultural value of the coffee plant through its cold brew coffee and Energy+ Immunity energy drink, which is brewed from upcycled cascara, a by-product of the coffee harvest. The brand is looking to bring more visibility to cascara, reduce food waste, keep rivers and farms clean and empower smaller coffee farmers with a new source of revenue.
“Riff is helping reverse coffee’s contribution to climate change while injecting economic vitality for struggling coffee farmers around the world,” said Davis.
Riff will use the funding to scale its position in the sustainable coffee industry.
Peacock said: “It’s authentic brands like Riff, that are born from passion, heart and purpose, that tend to do well and have staying power. Riff’s sustainability initiative with upcycling cascara is one that will resonate with the growing population of conscientious consumers seeking good-for-you and -the planet alternatives.”
© FoodBev Media Ltd 2024