Frozen coffee startup Cometeer raises $35M Series B and launches its product in earnest – TechCrunch

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Gloucester, Massachusetts-based Cometeer has been round for 9 years. In that point, the corporate has constructed up a mad scientist’s lair value of coffee scientists, gear and processes to jolt some recent life into the trade. Based mostly out of a former frozen seafood facility, the corporate has created a multimillion-dollar proprietary manufacturing line to show beans into flash-frozen little “pucks”, sealed in capsules to maintain their taste intact. The 10x power brew is then prepared to make use of.

Decide beans. Roast them. Grind them. Add water. Drink. Coffee actually doesn’t should be difficult, however yearly a dozen new startups come jittering alongside to attempt to discover new and revolutionary methods to inject some taste and caffeine into the drab, meaningless existence of a expertise journalist. Most of these startups are safely ignored, as a result of the overwhelming majority of them will probably be gone by the point you consider writing a “the place are they now” round-up on the finish of the yr. Nonetheless, when a fistful of buyers pump a complete of $100 million into an upstart, you’d best consider that even probably the most under-caffeinated reporter begrudgingly shoves some toothpicks to prop open their eyelids, and pays consideration.

The earlier spherical was $50 million, closing in April of 2020. Within the present spherical of financing, the corporate harvested $35 million from D1 Capital, Elephant, Tao Capital, Addition Ventures, Avenir, Greycroft Companions and TQ Ventures, together with various coffee-expert angel buyers. The corporate declined to reveal the valuation of the funding spherical.

To brew the pods, you “soften” the puck by dropping it in a cup of scorching or chilly water, wait a bit, and you’ve obtained a recent cup of joe on the go. The one factor you want is a few water, and a means of heating the water, if it’s scorching coffee your little coronary heart wishes. The capsules keep recent for as much as three years in the event you maintain them in the freezer, and will survive for about three days in the fridge.

Frozen Cometeer Capsule

The Cometeer capsules are flash-frozen in liquid nitrogen to protect the flavour. In your freezer, they keep recent for about three months. Picture Credit: Cometeer

As for the coffee itself, the magic begins with the beans:

“Our roasting companions are the spine of Cometeer. Equally as necessary as superior tasting roasts, issues amongst our roasters is their assist of coffee farmers, and dedication to direct commerce buying at equitable costs a number of instances the truthful commerce minimal,” explains Cometeer’s co-founder and CEO Matt Roberts. “We're targeted on constructing out a various group of roasting companions with distinctive backgrounds, sourcing strategies and roasting types. Alongside these companions, we glance to assist the de-commoditization of the coffee trade.”

Cometeer has seen excessive progress over the previous couple of years, rising from 12 to 120 workers since its earlier spherical of funding. For now, the corporate is focusing on its direct-to-consumer play.

“Whereas we're targeted on direct to client proper now, we're trialing on-premise with George Howell’s café in Boston and are piloting B2B coffee options with focus on company gifting,” explains Roberts.

The corporate shut down its wait-list immediately, making the coffee accessible for anybody who has a bank card and a hankering for a new frontier in Java expertise. The capsules are two-buck-pucks, with a price tag of round $2.00 every — the bottom cargo is 32 capsules for $64.

Source : TechCrunch