Prefer, a bean-free coffee startup Prefer has secured US$2 Million in seed funding round. The investment was led by Forge Ventures, with participation from 500 Global, A*ccelerate, Better Bite Ventures, Sopoong Ventures SEEDS Capital, Entrepreneur First and PICKUP COFFEE.
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With the help of the capital, the Startup will be able to expand the size of its manufacturing facilities and provide more ground coffee and ready-to-drink bottled drinks throughout Asia Pacific, beginning with Singapore and the Philippines.
“As climate change erodes coffee farmlands, erratic weather puts crops at risk, and demand continues to rise, coffee bean prices will skyrocket. That’s where Prefer comes in to ensure the production and price of coffee become sustainable and stable in the long run,” said Jake Berber, Co-Founder and CEO of Prefer.
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“With a commitment to revolutionising the coffee industry by offering affordable and sustainable bean-free coffee, Prefer embodies the spirit of forward-thinking entrepreneurship we actively seek to support,” said Forge Ventures co-founder and partner Tiang Lim Foo.
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About Prefer
Founded by Jake Berber and Tan Ding Jie in 2022, To ensure that coffee is tasty, reasonably priced, and environmentally friendly, it avoids the use of coffee beans in their production. The Startup uses its own unique fermentation technique to upcycle soy pulp, leftover bread, and spent grain to make a coffee alternative that has the same flavor, fragrance, and brewing experience as regular coffee.
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