Food Technology Company, Atomo, Closes $40 Million Series A to Scale Beanless Coffee Product Line
Atomo, first to market with a beanless coffee, beats traditional coffee 2:1 in blind taste test and is now available directly from the company's website.
SEATTLE, June 28, 2022 (Newswire.com) - Atomo Coffee, Inc. announces the close of a $40 million Series A investment from agtech leaders S2G Ventures, AgFunder and Horizons Ventures. The funding round enables further investment in beanless coffee new product development, manufacturing scale and the official consumer launch of their game-changing beverages, beginning with two ready-to-drink cold brews. Available now, the initial products include Classic Black and Ultra Smooth, both brewed from plant-based ingredients and deliver the caffeine consumers expect. Atomo's R&D will continue innovating in the category as they build products to meet every format and occasion for enjoying coffee.
"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," states Andy Kleitch, CEO and cofounder of Atomo.
Founded in 2019 in the heart of Seattle, Atomo's mission is to reverse engineer coffee, utilizing upcycled ingredients to deliver a consistently smooth coffee experience with a reduced environmental impact. Having perfected their solution, they are now prepared to deliver consumers a premium tasting coffee experience with 93% less carbon emission and 94% less water.
"Atomo's cold brew products deliver great environmental benefits and their taste is superior to other products on the shelves," adds Chuck Templeton of S2G Ventures, "Great taste and better for the planet is a win-win combination."
In a recent blind taste study conducted by National Food Labs, Atomo's cold brew out ranked competitive conventional cold brew products on preference 2:1, with panelists not being able to recognize Atomo was made without conventional coffee beans.
"We are amazed at how Atomo's molecular platform is able to create such a premium beanless coffee experience for consumers, with every sip bringing confidence and satisfaction. Atomo is delivering on taste and sustainability for coffee lovers worldwide," said Wayne Cheng of Horizons Ventures.
Many reports over the past five years have highlighted the effects of climate change on coffee growing regions around the globe. Drought, frost, as well as rising temperatures, have made current coffee growing regions less suitable, leading growers to deforest areas of virgin rainforest uphill to reach more tolerable climates for their coffee plantations.
"The demand for coffee is increasing year over year with climate change significantly impacting the farming regions, which in turn will impact the consumer through price and availability," mentioned Rob Leclerc of AgFunder. "Breakthrough technologies pioneered by Atomo are going to be a part of the solution for future generations to be able continue enjoying their favorite brews."
Atomo is now available through the company's website www.atomocoffee.com and will be available at select retail locations later this year.
About Atomo Coffee
Founded in 2019, Atomo is a Seattle-based, food-tech startup improving coffee taste and confronting the climate crisis by reinventing coffee for tomorrow. They have reverse-engineered the coffee bean—producing outstanding cold brew coffee that tastes great and does good.
About S2G Ventures
S2G Ventures, the direct investment team of Builders Vision, partners with entrepreneurs who are working on solutions to some of the world's greatest challenges across the food, agriculture, oceans, and clean energy markets. We provide capital, mentorship, and value-added resources to companies pursuing innovative market-based solutions that generate positive social, environmental, and financial returns. We provide our partners with flexible capital solutions that can range from seed and venture funding through growth equity to debt and infrastructure financing. For more information about S2G, visit s2gventures.com, tune-in to our podcast, or connect with us on LinkedIn.
About Horizons Ventures
Horizons Ventures was co-founded by Solina Chau and Debbie Chang in 2005. It is known for backing era-defining companies making lasting and positive impact in the world. Amongst its string of notable early stage investments are Zoom, Impossible Foods, Perfect Day, Spotify, Siri and DeepMind, reflecting Horizons Ventures' methodical long-term investment approach.
Founded in 2013 and based in Silicon Valley, Agfunder is one of the most active agri-foodtech venture capital firms. Their mission is to invest in technologies to rapidly transform our food and agriculture system.
Source: Atomo Coffee Inc.