SPINN Secured fund for $37m to develop coffee brewing technologies

SPINN secured fund for $37m to develop coffee brewing technologies

July 29 - 2021

Coffee Geography Magazine

Spinn secured fresh funding led by Spark Capital, to bring high tech brewing machines to the market. Joining Spark in the round were Amazon’s Alexa Fund, Bar 9 Ventures and existing investors. The Los Angeles-based company a total of $37 million in funding to date, CEO Roderick de Rode said to the media. Without getting into the details, he said Spinn previously raised both Series A and B rounds.

Roderick de Rode

Roderick de Rode, CEO 

“SPINN is doing for coffee what Dyson did for vacuums and what Nest did for homes, rethinking technology and connectivity for better results,” said Kevin Thau, general partner at Spark Capital, in a written statement. “Their approach, from machine design to roaster assortment, is elevating the entire industry and delivering what consumers seek today: delicious tasting coffee brewed to their personal preferences, with the smallest impact on the planet.”

Their coffee maker uses centrifugal force to spin, instead of press, coffee grounds. De Rode says this results in a cup of coffee tasting how it was intended by the roaster. The machines can be controlled via voice command from Amazon’s Alexa or a single tap on the machine or from a mobile app.

Spinn itself has three coffee makers to choose from that retail for $479 to $799, according to its website. The machines don’t require any filters or coffee pods and make a variety of styles, including espresso, Americano, drip and cold brew.

He plans to use the new funding to further grow and develop its patented brewing technologies, and complete delivery of outstanding pre-orders.

Without specifying the company’s detail growth projection, he said there has been triple-digit growth from home users. “The coffee industry is becoming a food thing just like wine,” de Rode said. “People want to understand the different kinds of beans to make more sophisticated choices. We try to bridge the gap between the coffee shop and home.”

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