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[Note: This headline of this story has been changed. The original headline incorrectly suggested the Series C round was $120 million. However, the exact amount of the investment has not been disclosed. Botrista said it has raised $120 million in total over multiple funding rounds.]
Super-automatic drink equipment maker Botrista closed a Series C funding round led by restaurant and retail coffee giant Jollibee Foods Corporation (JFC).
The latest round brings the San Francisco-based equipment company’s total capital raised to $120 million since its inception in 2017.
“JFC’s support validates the vision for a more exciting beverage menu,” Botrista Founder and self-described “serial entrepreneur” Sean Hsu said in an announcement of the round. “This new funding will fuel our hyper-expansion into new markets and help more of our partners elevate their drink menu without increasing labor or complexity.”
According to Botrista, its machine-driven cold beverage platform is currently in use at restaurants and cafes in 34 U.S. states. The platform allows users to produce “high-margin, on-trend cold beverages” at the push of a button through a single machine. Mixing purees, waters, brews and other liquids, the Botrista allows for cold drinks in more than a dozen categories, including cold brews, teas, juices, fizzy drinks and cocktails.
In a recent press release with this photo, Botrista described Gen Z as a key demographic with an “insatiable appetite for unique experiences and penchant for affordable, small indulgences.”
The deal with Filipino multinational fast food giant JFC has the potential to exponentially expand the Botrista platform reach in the U.S. and beyond. JFC owns approximately 7,000 fast-food retail locations worldwide, including thousands in the coffee segment from brands such as Jollibee, Coffee Bean & Tea Leaf and Vietnam-based Highlands Coffee. Just two weeks ago, the Jollibee group acquired fast-growing South Korean coffee chain Common Man Coffee Roasters for $340 million.
“Botrista is a game changer for the beverage industry,” Tony Tan Caktiong, the billionaire founder of Jollibee, said. “We’re investing in a company that enables food service operators to deliver a world-class customer experience and provides substantial runway for sustained profitable growth.”
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