The United States-based Bellwether Coffee has closed a US$40 million (about $58.67 million) Series B funding round led by DBL Partners and brothers Lyndon and Peter Rive.
Additional participating investors include FusionX, Congruent Ventures, Coffee Bell, Tandem Capital, Spindrift Equities, XN Ventures, Balius Partners, and Hardware Club.
Bellwether, whose electric commercial roaster won the Specialty Coffee Expo’s Best New Product award for 2019, aims to make coffee roasting emissions-free and easily accessible to cafés and grocery stores.
The roaster’s internet connectivity provides access to a curated marketplace of green coffee from farms around the world, inventory management tools, and data analytics from its connected software.
Since officially launching the roaster in the United States last year, Bellwether Coffee says it has seen significant demand from coffee retailers, cafés, local grocers and national chains, and – on average – is installing one roaster per day across the US.
“We are thrilled to be working closely with DBL, Lyndon and Peter Rive to help accelerate our already rapid growth,” Bellwether CEO Nathan Gilliland says.
“We expect in-store roasting at cafés and grocery locations to become the rule, not the exception.”
In addition to meeting global demand for its roaster, Bellwether says it’s also focused on eliminating processes that are harmful to the planet, with the electric roaster reducing greenhouse gas emissions by 90 per cent.
“DBL is pleased to work with Bellwether Coffee to accelerate the reduction of coffee’s carbon footprint and drive positive social impact across the supply chain, all while offering consumers a higher quality coffee experience,” says Nancy Pfund, Founder and Managing Partner of DBL Partners.
“Whether it is cars or coffee, the move to electricity away from fossil fuels whets consumers’ appetites for a planet-friendly, premium product, creating large, high-growth markets in the process.”
Pfund will join Bellwether’s board of directors, alongside Lyndon Rive.
“Bellwether completely changes how coffee is roasted and distributed,” Rive says. “We are thrilled to co-lead this round to help Bellwether’s outstanding team meet its rapid growth in global demand.”
For more information, visit www.bellwethercoffee.com
