UNITED STATES—Cumulus Coffee Company, having secured $20.3 million in funding, has unveiled the groundbreaking cold brew coffee pod machine, marking a significant stride in the market.
Leading the seed investment round were Valor Siren Ventures (VSV) and Valor Equity Partners (VEP), alongside other investors
Valor Siren Ventures, a Chicago-based private equity firm specializing in food and retail technologies, boasts a diverse brand portfolio that includes prominent names such as Black Seed Bagels, Bored Cow, and Voyage Foods.
Cumulus Coffee Company’s latest endeavour is Schultz’s initial investment following his departure from Starbucks’ Board of Directors in September 2023.
Notably, Schultz had previously invested in Oatly’s $200 million fundraising in July 2020.
The Cumulus cold brew machine, as claimed by the company, utilizes recyclable aluminum capsules to produce a 10-ounce cold brew, nitro cold brew, and a pioneering cold-pressed espresso—all accomplished in under 45 seconds.
Significantly, the technology behind the machine eliminates the need for ice in cold beverages, and the nitro cold brew process does not necessitate a sizable nitrogen gas tank.
Mesh Gelman, the founder and CEO of The Cumulus Coffee Company, emphasized the concerted efforts of a team comprising coffee, technology, and design specialists.
Their goal was to redefine the experience of enjoying handcrafted cold coffee at home in an unprecedented manner.
Gelman noted the substantial growth in the cold coffee industry, with 75% of American café consumers now favouring cold beverages over their hot counterparts.
Jon Shulkin, co-president of VEP and fund manager for VSV, expressed his appreciation for the Cumulus team’s innovation in tapping into the rapidly expanding nitro cold brew coffee market.
He acknowledged the intriguing nature of Cumulus’ product and welcomed the opportunity to collaborate in realizing their vision of delivering a high-quality nitro cold brew coffee experience at home.
Looking ahead, Cumulus plans to offer a selection of six coffee pods, sourced and roasted in-house, available for online order starting at the end of the first quarter of next year.
The machine is set to retail at US$599 upon its Summer 2024 release, and aims to revolutionize the at-home coffee experience.