London-based coffee brand Grind has raised £22 million ($30m) during an investment round.
The company says it will use the investment to accelerate its UK direct-to-consumer business and fund an international expansive drive, with aims to branch out to the US in 2022.
Grind also highlights the “explosive” growth in its at-home coffee products during the lockdowns as a reason for its recent success.
The investment round was led by entrepreneur and author Richard Koch, founder of LEK Consulting.
Grind was founded by David Abrahamovitch and Kaz James in Shoreditch, east London in 2011. The company opened cafes and restaurants across the city and ore recently, launched its direct-to-consumer arm, led by its compostable and organic coffee pods for Nespresso machines.
“It’s amazing to reflect on how the little coffee shop we opened a decade ago has evolved into such a recognisable brand, enjoyed by our customers around the world,” said Abrahamovitch.
“Each year, we serve hundreds of thousands of coffee lovers through our London stores, and through our compostable coffee pods, we’ve now found a way that we can take the Grind coffee experience into the homes of millions more around the world.”
© FoodBev Media Ltd 2021
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