California–based technology company Botrista Technology Inc. has secured $10m investment to grow its DrinkBot automated beverage concept in the US
Botrista is targeting and additional 300 DrinkBot locations by the end of 2021 | Photo credit: Botrista Technology Inc.
The Series-A funding was co-led by Purestone Capital and La Kaffa International with participation from Sony Innovation Fund, Middleby Corporation, and brings the company’s total capital raised to $16m.
DrinkBot’s automated premium beverage concept aims to enable hospitality businesses to capitalise on additional product sales, including iced coffee, lattes, infused teas and soft beverages, without the need to invest in additional skilled staff or a full bar capability.
According to a press release, the DrinkBot can prepare and mix beverages from a touch screen interface within 20 seconds.
"In 2020, fountain drink sales were down considerably as consumers rapidly switched their drink preferences and were less likely to order fountain drinks during take-out or delivery," said Sean Hsu, Co-founder & CEO of Botrista.
"While craft beverages are trending, it has become increasingly challenging for foodservice companies to meet demand due to labour shortages and lower staff retention," he added.
Premium automated coffee and beverage solutions are growing in popularity globally as operators seek to establish new sales channels while minimising investment in staff and equipment. In the UK alone, World Coffee Portal data shows the premium self-serve vending market has doubled in size
to more than 14,600 units over the last five years.
Founded in 2017, Botrista Technology, Inc. attracted $4m in seed funding in mid-2020. The company currently has restaurant customers in Los Angeles, New York City, Seattle, San Diego, San Francisco and Taiwan and targeting an additional 300 locations across the US by the end of 2021.