Prefer Raises $2M to Expand Bean-Free Coffee Brand Across Asia
- ByStartupStory | February 23, 2024
Prefer, a Singaporean bean-free coffee startup, has secured $2 million in seed funding led by Forge Ventures. Other participants include 500 Global, A*ccelerate, Better Bite Ventures, Sopoong Ventures, SEEDS Capital, Entrepreneur First, and Pickup Coffee.
“This capital infusion allows Prefer to invest significantly in expanding its production facility and introducing its ground coffee and ready-to-drink bottled beverages across Asia Pacific,” said co-founder Jake Berber.
Founded in 2022 by Berber and Tan Ding Jie, Prefer utilizes a proprietary fermentation technology to create coffee substitutes from surplus bread, soy pulp, and spent grain.
“As climate change erodes coffee farmlands and demand rises, coffee bean prices will skyrocket. That’s where Prefer comes in to ensure sustainability,” Berber emphasized.
Prefer caters to B2B clients like cafes, coffee chains, and distributors, providing ground coffee compatible with standard espresso machines. It also offers ready-to-drink bottled coffee for various businesses and events.
“For brands with sustainability goals, Prefer helps slash their carbon footprint, producing 10x less carbon dioxide than traditional coffee beans,” Berber highlighted.
Prefer’s products are currently available at 12 locations across Singapore, with plans to expand further and announce household name partnerships in 2024.
“Our aim is to provide delicious, affordable, and sustainable coffee options,” Berber concluded.
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