Gloucester, Massachusetts-based espresso manufacturing and know-how firm Cometeer, has closed a $35 million Collection B funding spherical, bringing the corporate’s whole raised capital to $100 million.
The newest money circulation additional solidifies Cometeer’s place as a specialty espresso section competitor to fashionable single-serve, disposable choices like Okay-Cups or Nespresso pods.
Cometeer focuses on the manufacturing, sale and chilly delivery of disposable frozen specialty espresso capsules designed to match top of the range and consumer comfort. Every recyclable aluminum capsule made by Cometeer accommodates a small quantity of espresso extract made up of a scorching beer that’s rapidly frozen and sealed.
The consumer prepares the drink by placing the frozen portion in any cup or cup and including scorching water to get pleasure from. The extract can be drunk chilly or used as the bottom for espresso-style drinks.
Cometeer claims to have acquired investments from espresso stakeholders thus far, akin to “founding father of Keurig Inexperienced Mountain, former President of Nespresso, and main investor in Blue Bottle,” together with many different funding corporations and people.
Cometeer mentioned the most recent funding will go towards ramping up manufacturing inside its headquarters and 70,000-square-foot manufacturing facility in Gloucester, a former frozen seafood plant that features a 30,000-square-foot freezer and a 15,000 gallon liquid nitrogen tank.
Cometeer has been making branded merchandise utilizing beans from a rising listing of high quality espresso roasters. Among the newest merchandise to launch embrace Oakland-based Purple Bay Espresso and Los Angeles-based Go Get Em Tiger, with Southern California-based Klatch Espresso launching this week, and Onyx Espresso Lab-based in Arkansas coming quickly.
“We’re targeted on constructing a various group of roasting companions with distinctive backgrounds, sourcing strategies, and roasting types,” Cometeer Co-Founder and CEO Matt Roberts mentioned in an announcement. The corporate’s announcement was launched at this time. “Along with these companions, we stay up for supporting the de-commoditization of the espresso business – that’s our mission.”
The rise in capability additionally marks the tip of the corporate’s testing program and retail itemizing. Gross sales and delivery are made via the corporate’s web site which is now 100% public, in addition to a brand new company present program.
Roberts instructed Every day Espresso Information: “Whereas we’re specializing in reaching on to shoppers proper now, we nonetheless have a presence in restricted espresso retail places like George’s espresso store. Howell in Boston. “We’re going again to considered one of our earlier channels that was targeted on the workplace, targeted on giving items to staff.”
A former laptop scientist, Roberts co-founded Cometeer in 2012 with CTO Douglas Hoon. After a number of years of improvement involving scientists and complementary espresso consultants, the capsules made their first public look on the 2019 Specialty Espresso Expo, the place they gained an award. “Greatest New Product” within the Open Class class.
In 2020, Cometeer started investing within the buy of the highest successful inexperienced coffees from Cup of Excellence inexperienced espresso competitions around the globe. That culminated within the launch this previous summer season of the Stellar Collection.
Howard Bryman is the deputy editor of Roast Journal’s Every day Espresso Information. He’s based mostly in Portland, Oregon.