Seattle bean free coffee company atomo announced on Tuesday that it had raised $40million in new funds.
Atom also officially started selling its first two products – classic black beer and super smooth cold beer through its online store. Last fall, the company hosted a fast selling e-commerce pop-up window for the first time.
Since 2019, atomo has been improving and expanding the reverse engineering of coffee beans, removing them from the coffee making process and replacing them with a molecular mixture derived from naturally sustainable and renewable plant waste components.
Its goal is to mitigate the impact of climate change on the global coffee growing regions and provide an alternative to the environmental destruction process of coffee planting. Compared with traditional coffee, atomo coffee uses 94% less water, 93% less carbon emissions, and 98% upgraded ingredients, such as jujube seeds, chicory roots and grape skin extracts.
When companies in the entire technology field are increasingly worried about economic problems, large-scale A-Series financing came into being. As venture capitalists cut back on investment, many start-ups are already cutting costs and laying off workers.
Andykleitsch, chief executive, said: “economic recession often has less impact on companies with breakthrough technologies and products, and atomo is lucky to be one of these companies.”. “We will be optimistic but responsible for our recent investment. The coming downturn will slow new competition into the market and enable us to attract some excellent talents.”
Atomo has grown to 35 employees, and there are about 12 job vacancies, and more jobs are waiting.
Jarret stopworth, the co-founder and former chief scientist of atomo, left the company in May. According to LinkedIn, he is now the co-founder and chief operating officer of Dewey beverage, a manufacturer of canned cocktails.
“Jarrett is taking his next venture,” said edhoehn, atomo’s director of growth. “His legacy is very rich through the innovative science he established in atomo. We have a good cooperative relationship with the innovation team led by Charlie Shaw.”
The company has been expanding production at the Seattle bakery, just six blocks from coffee giant Starbucks. At present, they can produce about 2000 cold beers per day (1 can).
Four packs of classic black on the atom website can be pre ordered for $22. The price of 8 packages is $40, and the price of 24 packages is $120. The drink was described as “a mature medium roasted cold drink with a hint of cocoa, dark fruit and smoke.” The product will be delivered on July 15.
Plans for continued growth include offering products at selected retail outlets later this year. This summer, atomo also opened a batching plant in California, which will enable the startup to work with more farmers in the cochella Valley to upgrade the mine.
To date, atom has raised $51.5 million. The latest round was led by S2G ventures, agfunder and horizons ventures.
Rob Leclerc of agfunder said at the press conference: “with the significant impact of climate change on agricultural areas, coffee demand has increased year by year, which in turn will affect consumers through price and supply.”. “The breakthrough technology created by atomo will be part of the solution so that future generations can continue to enjoy their favorite beer.”