Brewbike raises over $3 million
Austin-based coffee start-up Brewbike has raised more than US$3 million 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.
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 start-up 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.
“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,” says 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.”
Founded in 2015 by a group of Northwestern University students, Brewbike empowers college students by giving them hands-on entrepreneurial experience, providing the necessary skills and tools needed to run a business, and giving them a seat at the table to oversee operations.
Since inception, 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 is now located on 11 college campuses and has plans for continued expansion to additional markets and openings throughout the 2022 academic year.
For more information, www.Brewbike.com.
Source: Coffee Talk