This Week in Coffee: VC Investment 🤑, Redemption Roasters Raise & Rules Changes
The Big Three
Better margins attract VCs to specialty coffee startups
We've been reporting on coffee investment here at Moonhead throughout 2023 and it's been an impressive 12 months. However, during this period I wasn't aware of what a chance in tempo these investments where. 2023 saw almost double the funding that 2022 did.
The explanation for this is not immediately obvious in the context of plateaued overall coffee consumption and a mature, stable market in Europe and North America.
On inspection, the theme driving this investment is specialist coffee in two specific countries: India and China. I'd recommend you read the above article to see the details.
Redemption Roasters secure £1.3m in funding
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Redemption Roasters have successful closed out a round of crowdfunding - well exceeding their goal. Redemption does tremendous work in the UK with a number of coffee shops plus a Roastary behind bars at HMP The Mount.
This investment will go into building their e-commerce operation and streamlining existing operations.
Rules changes at the SCA
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With the 2024 World Coffee Championship around the corner in Copenhagen - new rules have been released for four of the underlying competitions; World Latte Art Championship (WLAC), World Coffee in Good Spirits Championship (WCIGS), World Coffee Roasting Championship (WCRC), and Cezve/Ibrik Championship (CIC).
Having read through the rules changes, the news is that there is no news. No substantial changes have been made apart from within the WLAC.
Here competitors will now have a choice of different milk options for the championship and will have the option of bringing battery-operated electrical equipment onto the stage.
Other news :