US start-up Atomo Coffee will use the new investment to further develop its ‘beanless’ coffee product range, with the company’s first cold brew products to launch at US retail locations later this year
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Atomo products are expected to launch within select retail locations later this year | Photo credit: Atomo Coffee
Seattle-based Atomo Coffee has announced the close of a $40m Series A investment round that will enable the company to officially launch its beverages in US retail locations.
Atomo said the funding, from S2G Ventures, AgFunder and Horizons Ventures, will enable further investment in its 'beanless' coffee product development, manufacturing scale and the official consumer launch of its plant-based beverages, beginning with two ready-to-drink cold brews.
Atomo products are currently available to purchase through the company's website and the start-up expects to launch products within select retail locations later this year.
Atomo first revealed its ‘molecular coffee’ in August 2019, promoting that it had 'reverse engineered' a synthetic beverage from chemical compounds found in coffee. However, after undergoing a significant rebrand, Atomo says its coffee product is formulated from upcycled date seeds, grape, chicory and tea-sourced caffeine before being roasted and brewed.
"With Atomo in the hands of the consumer we are empowering them to drink coffee they love while making a choice to do something better for the planet every day," said Andy Kleitch, CEO and Co-founder of Atomo.
Atomo claims that in reverse engineering the coffee bean the company avoids deforestation related to coffee production. The company states that its new product is produced with 93% less carbon emission and 94% less water compared to other cold brew coffee products.
In September 2021 the company launched a ready-to-drink cold brew product in the US, considered the world’s first synthetic coffee product to be brought to market.
Although Atomo’s synthetic coffee is the first of its kind to be launched in the market, fellow US food-tech firm Voyage Foods recently raised $36m to also develop its first synthetic coffee product as part of ambitions to ‘future-proof’ food production. To date, the company has launched a peanut-free spread and is set to bring cocoa-free chocolate to the market later this year, but no launch date has yet been announced for its coffee product.