Brewbike, based in Austin Texas, a startup by young entrepreneurs announced the coffee company has managed successfully to raise $3,000,000+ in its latest bridge fund round. Funds from the bridge round will be applied towards Brewbike's current campus and direct-to-consumer operations, as well as continued expansion into new markets in major college campuses across the country.
Founded in 2015 the company has retail locations across eleven college campuses. This bridge round includes backing from companies including CEAS Investments, a single-family office that invests in early stage private tech companies; Connetic Ventures, an early-stage VC firm that leverages data and artificial intelligence to source and evaluate startups; Koto, a startup-focused branding and design firm; Techra Investments; angel investment network Chicago Booth Angel Network; and Mats Lederhausen's Be-Cause Ventures.
Additional investors include Westbrook Inc., the media and entertainment company; Morningstar, Inc. founder and Chicago Fire FC owner Joe Mansueto; as well as Venetia Kontogouris, the Managing Director at Venkon Group LLC.
"I'm so excited about what this round will do for our business. With this new funding, we've launched our direct-to-consumer product, built a new brand and website, are expanding from four to 11 campuses with more on the way," said Sierra Bloodgood, CEO of Brewbike." We are excited for the reach and impact this funding will allow us to have and are excited to partner with everyone who participated."
Since its formation, the company has employed and supported 450+ students, provided over $700,000 in student wages and has sold more than 250,000 cups of coffee along with wholesale distribution.
Brewbike continues to grow exponentially, appointing former chief revenue officer Sierra Bloodgood to CEO this fall, followed by expansion into seven new markets across the U.S.