Coffee tech start-up Cometeer has secured $35 million in a Series B round, bringing the total raised to date by the company to $100 million.
Based in Gloucester, Massachusetts, Cometeer brews coffee “through science” in a carefully calibrated process before sealing it in recyclable capsules.
The 10x strength brew is then flash-frozen with liquid nitrogen to lock in the aroma and is delivered directly to consumers, who can use it to make a hot or iced coffee by melting it with water.
The funding will help the company to increase manufacturing capacity at its facility, as well as expand its roster of roasting partners and continue to invest in innovation.
“Our roasting partners are the backbone of Cometeer. Equally as important as superior-tasting roasts, considerations amongst our roasters is their support of coffee farmers and commitment to direct trade purchasing at equitable prices multiple times the fair-trade minimum,” said Cometeer co-founder and CEO, Matt Roberts.
“We are focused on building out a diverse group of roasting partners with unique backgrounds, sourcing techniques and roasting styles. Alongside these partners, we look to support the de-commoditisation of the coffee industry — it’s our mission.”
© FoodBev Media Ltd 2021
World Beverage Innovation Awards – NOW OPEN FOR ENTRIES!
The awards celebrate excellence and innovation across the global beverage industry.
Don’t miss out on having your innovations recognised on a global scale.
Deadline for entries 23 July – enter now!
Don’t get left behind
Start your free Foodbev magazine trial today and join thousands of fellow industry professionals in receiving food and drink trends direct to our business.
Click here to start your free trial