The California-based single-serve coffee provider Steeped Coffee has recently raised $5 million through the crowdfunding platform Republic. More than 4,500 investors supported the crowdfunding campaign in less than 48 hours. That makes it “the 11th firm to raise the $5 million funding cap on Republic.” According to the company, the money will go toward reaching more coffee drinkers with its compostable brewing method.
The fact that the company reached its crowdfunding goal in less than two days speaks volumes about consumers wanting to support sustainable businesses along the whole supply chain. Steeped Coffee bags are a sustainable answer for coffee pods and capsules, which mostly end up as waste in spite of the claims of being recyclable – although lately, consumers have had a choice to use refillable capsules.
The fact that the company reached its crowdfunding goal in less than two days speaks volumes about consumers wanting to support sustainable businesses along the whole supply chain
Steeped Coffee promises “a perfect cup of coffee anytime, anywhere, in minutes.” The company provides single-serve coffee bags that are “filled with 100% artisan roasted specialty coffee and are crafted for quality, convenience and sustainability.” In the past, Nick from Bartalks interviewed the company’s founder Josh Wilbur, who explained why Steeped Coffee is more than just “a coffee in a bag.”
Driven not only by sustainability but also by traceability and ethical sourcing, Steeped Coffee buys coffee directly from the producers at a price “that far exceeds the FairTrade minimum,” thus helping the coffee-producing communities through growing relationships with the producers themselves.
However, although Steeped Coffee promotes the freshness of its products through its triple nitrogen seal, this factor remains debatable as coffee stops degassing and developing immediately after grinding it.
The company’s products became widely known to the public in 2019 when it won the best product award from the Specialty Coffee Association. Its finely ground coffee in fine mesh bags does not undergo freeze-drying processes typically done with instant coffee.
Consumers may buy Steeped Coffee products directly from the company, but it is also very active in the business-to-business market. Steeped Coffee offers its products to coffee roasters, shops, hotels and other clients, and has more than 400 licensed roaster clients to date.
