By Howard Bryman Source: Daily Coffee News.
In three short years, Austin, Texas-based High Brew Coffee has achieved an impressive extent of market presence with its canned RTD cold brew products, which are already fixtures on shelves across the United States in such major chain grocery stores as Whole Foods, Target, Safeway and more.
In its first round of venture capital fundraising last year the company netted a $4 million investment to ramp up production and extend distribution. Now just a bit over one year later, High Brew has completed a second fundraising round, this time roping in approximately $17 million.
The substantial Series B funding is led by Colorado-based growth equity fund Boulder Investment Group Reprise (BIGR), which focuses on investing in companies developing “natural” and organic products. The first round last year was led by investment firm CAVU Venture Partners, which focuses on “better-for-you” consumer food and beverage products and has offices in Austin, New York and Los Angeles. CAVU also reinvested as part of the Series B round.