London-based coffee shop, bar and restaurant raises £22m ($30m) investment to grow its direct-to-consumer coffee business and fund US expansion
Soho Grind in London, UK | Photo credit: Jon Cellier
Grind has raised £22m ($30m) investment to grow its at-home coffee business and facilitate new store openings in the US.
In a press release, the London-based boutique hospitality brand said ‘explosive’ at-home coffee sales were a significant factor behind the successful investment round, which was led by entrepreneur and author Richard Koch, founder of E.K. Consulting, and the first investor in high street betting firm, Betfair.
Like many hospitality businesses, Grind has sought to diversify in the wake of severe Covid-19 disruption to its brick-and-mortar stores. The company has since built on an existing direct-to-consumer retail packaged coffee business, as well as a retail partnership with UK supermarket giant, Sainsbury’s, to successfully scale its branded at-home coffee offer.
Indicating the success of its at-home
coffee business, in early 2021 Grind opened a new 15,000sq ft roastery in Bermondsey, London, to keep pace with demand. The company now anticipates sales exceeding £20m in 2021, with 30 million coffee pods expected to be shipped to around 100,000 customers.
Grind has also stated its intention grow internationally in 2022, particularly the US, where it already has a presence via an international partnership it signed with private members’ club group, Soho House, in 2020.
“It’s amazing to reflect on how the little coffee shop we opened a decade ago has evolved into such a recognisable brand, enjoyed by our customers around the world. Each year, we serve hundreds of thousands of coffee lovers through our London stores, and through our compostable coffee pods we’ve now found a way that we can take the Grind coffee experience into the homes of millions more around the world,” said David Abrahamovitch, Founder & CEO, Grind.
Founded by David Abrahamovitch and Kaz James in Shoreditch, London, 2011 Grind has sought to blur the boundaries between specialty café, bar and fine dining experiences. In doing so the hospitality firm successfully catalysed London's lucrative premium food and beverage scene across multiple dayparts, with menu items such as its celebrated espresso martini
proving especially popular.