Spinn Raises $40M to Revolutionize Coffee Brewing & Discovery

Spinn Secures $20 Million to Revolutionize the Home Coffee Experience

For those passionate about coffee, flavor is paramount. Spinn is capitalizing on this with a new $20 million funding round, spearheaded by Spark Capital, designed to expand access to its connected coffee system and marketplace.

Investment Details and Company Growth

Spark Capital wasn’t the sole investor; Amazon’s Alexa Fund, Bar 9 Ventures, and existing stakeholders also participated. This brings the total funding for the Los Angeles-based company to $37 million, as confirmed by CEO Roderick de Rode to TechCrunch. While the specific round designation wasn't defined, Spinn had previously completed both Series A and Series B funding.

Kevin Thau, general partner at Spark Capital, remarked in a statement that “SPINN is redefining coffee technology and connectivity, much like Dyson transformed vacuums and Nest revolutionized home automation, ultimately delivering superior results.” He further emphasized their holistic approach, from machine engineering to roaster selection, as a key factor in elevating the industry and meeting consumer demand for personalized, sustainably-sourced coffee.

The Technology Behind Spinn

Spinn first showcased its innovative centrifugal brewing technology at TechCrunch’s Startup Battlefield in 2016. Unlike traditional methods that press coffee grounds, Spinn utilizes centrifugal force to spin them.

De Rode explains that this process ensures the coffee tastes precisely as the roaster intended. The machines are conveniently controllable through voice commands via Amazon’s Alexa, a simple touch on the device itself, or through a dedicated mobile application.

Increased Home Coffee Consumption

A recent survey conducted by the National Coffee Association USA in April revealed that the global pandemic spurred a significant shift in coffee consumption habits. Approximately 85% of Americans now drink at least one cup of coffee at home, an 8% increase since January 2020.

Furthermore, nearly 60% of Americans consume coffee daily, and a quarter have purchased a new home coffee machine within the last year.

Competition and Innovation in the Coffee Tech Space

Spinn isn’t alone in pursuing advancements in home coffee brewing. Other startups, such as Osma, are developing machines designed to produce high-quality coffee, including espresso-like beverages, at various temperatures, even cold.

Spinn’s Product Line and Marketplace

Spinn currently offers three coffee maker models, priced between $479 and $799, as listed on their website. These machines eliminate the need for filters or coffee pods and are capable of brewing a diverse range of coffee styles, including espresso, Americano, drip coffee, and cold brew.

The accompanying marketplace features a vast selection of over 1,500 different coffees sourced from more than 500 artisan roasters worldwide. Customers can create personalized “playlists” of coffee choices for scheduled shipments or random deliveries, as described by de Rode.

The platform also facilitates community engagement through reviews, recommendations, and a coffee matching quiz.

Future Plans and Growth Strategy

The newly acquired funding will be allocated to further refine and expand Spinn’s patented brewing technologies and fulfill existing pre-orders.

While de Rode refrained from disclosing specific growth figures, he confirmed substantial triple-digit growth among home users. His vision is to emulate the success of Vivino in the wine industry by providing comprehensive educational resources about coffee varieties and the roasters behind them.

“The coffee industry is evolving into a culinary experience akin to wine,” de Rode stated. “Consumers are increasingly interested in understanding the nuances of different beans to make informed choices. We aim to bridge the gap between the coffee shop experience and the convenience of home brewing.”