Bevi raises funding to expand footprint in US
Beverage machines manufacturer Bevi has raised $16.5m through a Series B funding round to expand its footprint across the US.
The round was led by Trinity Ventures with support from Horizons Ventures and Tamarisc. Venture capital firm Trinity was an early investor in Starbucks and Jamba Juice. It is a current investor in Bulletproof Coffee.
Bevi will use the funding to increase the rate of development for internet of things (IoT) enabled technology. This will allow consumers to customise beverages at the point-of-use.
The company's beverage machines are designed to offer custom drinks through a touchscreen interface, with options including cold filtered water, cucumber water, and coconut and peach seltzers.
Patricia Nakache from Trinity Ventures said: “The Bevi value proposition for employers and employees is unbeatable: less expensive, more customisable and better for the environment.
“They are also precisely on-trend as consumers are demanding healthier food and beverage options, as well as better environmental sustainability."