SAN FRANCISCO, June 28, 2021 /PRNewswire/ -- Botrista Technology, Inc., a company revolutionizing the beverage industry with the Botrista DrinkBot, today announced it has raised $10 million in a Series A funding co-led by Purestone Capital and La Kaffa International with participation from Sony Innovation Fund, Middleby Corporation (NASDAQ: MIDD), and PIDC. The funding brings Botrista's total amount of capital raised to $16 million. With Botrista's 10x year-over-year growth in deployments and revenue, the new funding will be used to further ramp up deployment operations to roll-out the DrinkBot nationally.
Automation makes normally complex craft beverages easy to execute
Botrista provides beverage solutions to deliver a variety of craft beverages, including infused teas & lattes, flavored lemonades, iced coffees and more - without a full bar. The DrinkBot is an automated craft drink solution that enables any person to make a complex beverage. It capitalizes on the growing craft beverage segment, while driving additional revenue streams with minimal space requirements and training - which is increasingly important with the global labor shortage.
Ordered from a touch screen, the DrinkBot's blender dispenses and mixes drinks in less than 20 seconds with a process that simulates a hand-shaken product, resulting in consistent, quality beverage texture every time.
"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 labor shortages and lower staff retention. With nationwide expansion plans, these companies will have the opportunity to drive new revenue with the DrinkBot."
"Botrista enables a wide range of freshly-crafted high quality drinks. Thanks to its highly integrated hardware and software approach, the DrinkBot unlocks new efficiencies and revenue opportunities," said Gen Tsuchikawa, chief investment manager for Sony Innovation Fund (SIF) and CEO and chief investment officer for Innovation Growth Ventures (IGV). "We look forward to Botrista accelerating its deployment momentum in the US and internationally."
Applying dispensing, industrial engineering and software expertise
CEO Sean Hsu is a serial entrepreneur who owns dozens of technology and invention patents. He has extensive experience in automation, industrial engineering, and business efficiency. Prior to founding Botrista, Hsu spent numerous years at Tesla where he was part of the first autonomous manufacturing team at Gigafactory and many other factories - with an emphasis on automation and robotics for liquid dispensing processes. Using these robotics and dispensing skills, Hsu and the team developed the robot barista: the DrinkBot.
In addition to the blending technology, the DrinkBot includes a cloud-based application called CloudBar with real-time data integration for multiple applications and tracking: an efficient inventory management system that offers powerful data management capabilities to provide guidance for inventory replenishment; sales performance analysis to track menu performance; and a user-friendly tutorial video with a step-by-step guide of the drink making process, cleaning, and maintenance.
Based in Silicon Valley, Botrista has assembled a world-class team of Tech and Food & Beverage professionals from Google, Starbucks, Coca-Cola, Pepsi and Rich Products with extensive foodservice and beverage industry sales and marketing expertise to drive adoption of the DrinkBot nationally. The Botrista team is dedicated to being a total beverage solutions provider by offering a turnkey program with both hardware and software systems. Visit www.botrista.io for more information.
About Sony Innovation Fund
Established in July 2016 by Sony Corporation, Sony Innovation Fund engages with pioneering startups to help fuel the development of disruptive technologies and launch new businesses. In addition to investment, Sony Innovation Fund closely collaborates with the startups in which it invests, connecting them with businesses throughout Sony and its worldwide network of partners, providing guidance and advice, and collaborating with them to help achieve common success. Learn more at: www.sonyinnovationfund.com.
SOURCE Botrista Technology, Inc.