New investment brings flash-frozen specialty capsule concept’s total funding to $100m, which it will use to finish developing a 70,000sq ft production facility
Cometeer has already partnered with prominent specialty coffee roasters for its frozen coffee capsule concept | Photo credit: Cometeer
'Flash frozen’ coffee capsule maker Cometeer has received $30m Series B funding. The new investment brings the US company's total funding to $100m, which it will use to increase manufacturing capacity at its 70,000sq ft headquarters, introduce more roasting partners, and continue to ‘invest in innovation'.
Cometeer’s novel system involves flash freezing extracted coffee in liquid nitrogen before transference of the puck to aluminium capsules. The capsules will be delivered directly to customers and can be stored in home freezers for up to 18 months. Brewing involves immersing the coffee puck in hot water to make either hot or cold beverages.
Cometeer says its freezing process “will do for coffee what the bottle did for wine”, by better preserving aromatic compounds and keeping the coffee fresh. Moreover, the firm promotes that its aluminium capsules are 100% recyclable and also offers a composting service for spent coffee grounds.
The company has already partnered with prominent US specialty coffee roasters, including
George Howell, Equator, Bird Rock, Birch, Joe, Counter Culture, Red Bay, and go get em tiger (GGET).
“We are focused on building out a diverse group of roasting partners with unique backgrounds, sourcing techniques, and roasting styles. Alongside these partners, we look to support the de-commoditisation of the coffee industry – it’s our mission,” said Cometeer CEO Matt Roberts in a press release.
Investors in the capsule concept are said to include the founder of Keurig Green Mountain, the former Nespresso President and lead investors in Blue Bottle Coffee.