©The Whole Coffee Company
US-based The Whole Coffee Company has raised $11 million in a Series A funding round, which will enable to company to fund its expansion efforts.
The company produces a range of edible coffee products from coffee beans, including spreadable coffee butter under its Nudge brand, and has recently released new ranges of coffee products in partnership with Tim Hortons and Dunkin’ Donuts.
According to a statement from the company, it will also launch a new coffee bar under its Nudge brand next year, which is made with up to 68 whole single-origin coffee beans. The company claims that the bar has 25% fewer calories than ‘a leading chocolate bar’, has zero added sugar, and has an equal amount of caffeine as one cup of coffee.
Over the last year, the company has made a number of executive appointments to boost its profile, and this new funding seeks to accelerate the development of new retail products in future.
Christopher Ramonetti, chairman of the board of The Whole Coffee Company and CEO of ProspEquity Partners, said: “The close of our Series A funding by attracting prominent brand-based growth capital investors, who have significant influence in the coffee industry, was a critical and confirmatory step in The Whole Coffee Company’s evolution as a company, as a brand and as an emerging industry leader.
“This company and team will continue to surprise the retail and consumer packaged goods landscape with its accelerated product and brand launches over the upcoming year.
“The company continues to attract some of the world’s greatest coffee and consumer talent, and now, with the proper resources, will set its mark on the global coffee industry.”
© FoodBev Media Ltd 2019