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, 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.”
