When you are a coffee lover, taste matters and Lap is preparing new funding in the form of a $ 20 million funding round, led by Spark Capital, to bring connected coffee to new customers through its hardware-enabled coffee marketplace.
Spark was joined in the round by Amazon’s Alexa Fund, Bar 9 Ventures and existing investors. It gives the Los Angeles-based company a total of $ 37 million in funding to date, CEO Roderick de Rode told TechCrunch. He’s not defining this round, but said Spinn previously raised the Series A and B rounds.
“SPINN is doing for coffee what Dyson did for vacuum cleaners 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 are looking for today – delicious tasting coffee made to their personal preferences, with the least impact on the planet.”
Spinn presented his centrifugal brewing method at TechCrunch’s Battlefield Startup in 2016. The connected brewer uses centrifugal force to rotate, rather than press, the coffee grounds. De Rode says this results in a cup of coffee with the flavor the roaster intended. The machines can be controlled by voice command from Amazon’s Alexa or with a single touch on the machine or from a mobile app.
A survey published in April by the US National Coffee Association found that the global pandemic was the engine of 85% of Americans drink at least one cup of coffee at homeUp 8% from January 2020. Almost 60% of Americans drink coffee every day and a quarter bought a new home coffee machine in the past year.
Besides Spinn, other startups are coming out with machines aimed at making a better cup; for instance, Eighth it’s a new coffee brewing technique to make a strong espresso-like drink at any temperature, including cold.
Spinn herself has three coffeemakers to choose from between $ 479 and $ 799, according to her website. The machines do not require filters or coffee capsules and make a variety of styles, including espresso, americano, drip, and cold brew.
The market offers more than 1,500 different types of coffee from more than 500 artisanal roasters around the world. Customers add their coffee options to a sort of playlist, which can be specifically selected to ship or randomly scheduled, De Rode said. Drinkers can leave reviews and get recommendations, as well as take a quiz to pair with various coffees.
It plans to use the new funding to continue to grow and develop its proprietary brewing technologies and complete the delivery of pending pre-orders.
Although de Rode wouldn’t go into detail on Spinn’s growth metrics, he said there has been triple-digit growth from home users. Their goal is to do with coffee what Vivino did with wine: provide educational content about coffee options and the roasters themselves.
“The coffee industry is becoming a food thing just like wine,” de Rode said. “People want to understand the different types of beans to make more sophisticated decisions. We try to bridge the gap between the cafeteria and home. “