The college campus coffee concept says it will use the investment to grow its direct-to-consumer operations and expand into seven new US markets in 2022
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Brewbike operates mobile and fixed retail locations at 11 US college campuses across the US | Photo credit: Brewbike
US college campus coffee concept Brewbike will embark on a new chapter of growth after securing $3m bridge funding. The student-focused cold brew and coffee business said it has gained backing from companies including tech investment firm CEAS Investments, venture capital firm Connetic Ventures and branding and design start-up Koto.
"I'm so excited about what this round will do for our business. With this new funding, we've launched our direct-to-consumer product, built a new brand and website, are expanding from four to 11 campuses with more on the way," said Sierra Bloodgood, CEO of Brewbike.
Brewbike was founded at Chicago’s Northwestern University by a group of undergraduates in 2015 and operates mobile and fixed retail locations at 11 US college campuses alongside wholesale accounts.
In addition to serving coffee, Brewbike offers hands-on experience for students in business management and entrepreneurship. Since its inception, the company promotes that it has employed and supported more than 450 students, paid more than $700,000 in student wages, and sold more than 250,000 cups of coffee along with wholesale distribution.
The company says it now preparing to expand into seven new US markets throughout the 2022 academic year.