Spinn Raises $20M For a More Sustainable Home-Brewed Coffee
A coffee business headquartered in Los Angeles is trying to put a new spin on at-home coffee brewing.
Spinn manufactures a coffee brewing equipment that use a unique “centrifuge technique” and allows customers to choose from a range of coffees — all without the wasteful packaging that its rivals employ.
Spinn was able to profit from the closure of food stores and coffee shops as a result of the lockdowns. According to CEO Roderick de Rode, small coffee sellers went to Spinn’s online marketplace to sell their coffee, while customers looked to Spinn’s equipment to make coffee at home.
The firm said on Monday that it had secured $20 million in a round of investment headed by Spark Capital, Amazon’s Alexa Fund, and Bar 9 Ventures. The funds will be used to fulfil pre-orders for the company’s coffee equipment as well as to hire new employees.
Spinn, which was founded in 2015, wants to capitalise on the expanding demand for at-home coffee machines. Its machine is an all-in-one brewer that uses a unique “centrifuge” technique to create a number of coffee varieties, including espresso, americano, cold brew, and drip coffee. It has the capacity to handle 1,500 different varieties of coffee from 500 different vendors.
Brewing machines and coffee markets are also available from competitors like as Nespresso and Keurig. Spinn, on the other hand, stands apart, according to de Rode, because of its emphasis on sustainability. Because their machines don’t use filters, they create less waste while making coffee.
Spinn hopes to customise both to customers who continue to work remotely and to workplaces wanting to acquire coffee machines for returning staff as working conditions shift between in-person and remote, according to de Rode.
Consumer interest in coffee, according to de Rode, is trending in the same direction as wine: people are becoming more aware of the many types and origins of coffees, just like they have grown aware of the subtleties in different types of wines, allowing Spinn more room to operate.
“People nowadays know the difference between a Cherot and a Pinot Noir,” he explained. “You can see the same thing in coffee.”
Spinn’s machines are also internet-connected and can be operated via the Spinn app or Amazon’s Alexa.
