US: Single-serve coffee business secures $7m in pre-Series A
Bruvi names Terpsi Capital among its investors has company eyes Q1 2022 launch
Single-serve coffee start-up Bruvi has announced its pre-Series A round reached $7 million with VC inclusion coming from Terpsi Capital, 9Yards Capital, Cambridge Companies SPG and Miroma Ventures.
Coffee making giant BIA also contributed to the round, alongside a handful of high net-worth individuals.
Bruvi will re-invest the capital in manufacturing and software development ahead of its pre-order launch in November and full US launch in Q1 2022.
Bruvi’s compostable pods will be available alongside an in-house developed brewing machine that will be along the first to brew cold-brew coffee via a single-serve capsule system.
The company was founded by engineer and patent lawyer Sung Oh and his partner Mel Elias, the ex-CEO of North American coffee shop chain The Coffee Bean & Tea Leaf.
Elias said of the funding round: “We were very quickly over-subscribed for this round by high caliber family offices and venture funds, which validates the strength of the category and the breakthrough features.
“Bruvi is going to set a new standard in taste and quality for single-serve coffee,” Elias added.
The single-serve coffee industry is expected to grow to at a CAGR pf 7% to 2026, according to data from Persistence Market Research.
Bruvi has raised a total of $10.8 million to support its upcoming US launch.