The California-based automated coffee and tea concept has now raised $120m since launching in 2021, with JFC’s investment coming three months after it took a 10% stake in the business for $28m
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Botrista will use the funding to expand to new markets, invest in AI technology and enhance R&D operations | Photo credit: Botrista
US automated coffee and tea concept Botrista Inc has closed its $65m Series C funding round led by Filipino foodservice group Jollibee Food Corporation (JFC).
Launched in 2021, Botrista’s automated beverage concept is designed for coffee shops, restaurants and hospitality businesses seeking to add bubble teas, smoothies, iced coffee and flavoured lemonades to their menus.
California-based Botrista said the funding will ‘fuel our hyper-expansion into new markets’ to meet high demand for its machines globally. Additionally, the company will invest in artificial intelligence (AI) technology to create data-driven beverage menus and enhance R&D operations.
“The timing of this fundraising perfectly aligns with the high demand from new partners and significant interest from growing restaurant brands on a global scale,” said Jason Valentine, Chief Strategy Officer, Botrista.
Botrista has now raised $120m to date, having previously secured $10m in July 2021 and $45m in October 2022 but has yet to share the total sum of JFC’s investment. However, the announcement comes three months after the Jollibee, The Coffee Bean & Tea Leaf and Highlands Coffee parent company announced it would invest $28m for a 10% stake in Botrista.
“We’re investing in a company that enables food service operators to deliver a world-class customer experience and provides substantial runway for sustained profitable growth,” said Tony Tan Caktiong, Chairman, JFC.
In a March 2024 disclosure to the Philippine Stock Exchange (PSE), JFC said investing in Botrista would bolster its goal of growing its coffee and tea business. In addition to The Coffee Bean & Tea Leaf and Highlands Coffee, JFC’s network of 2,250 coffee and tea chain stores also includes Milksha and Common Man Coffee Roasters.
In July 2024, JFC announced it would acquire a 70% stake in 2,600-store South Korean coffee chain Compose Coffee for $238m. The deal, which would make Compose Coffee JFC’s largest brand by outlets, is expected to close by September 2024.