Spinn, the makers of the connected coffee machine that uses centrifugal force when making a morning cup of joe, has raised $20 million in new funding. TechCrunch was first to report the news this morning, writing that the new round was led by Spark Capital with participation from Amazon’s Alexa Fund, Bar 9 Ventures and other existing investors. This brings the total amount raised by Spinn to $37 million.
The Spinn is perhaps best known for its looooooong journey to market. Spoon Founder Mike Wolf pre-ordered a Spinn back in 2016, and after years of delays, Mike finally got his machine in July of last year. Based on the Spinn website, new machines can be pre-ordered for delivery this Fall, and cost between $479 and $779, depending the accessories included.
The hook with Spinn is that it uses centrifugal force to, well, spin the coffee grounds for extraction rather than pressing. The machine spins the grounds more slowly for regular coffee, and higher for espessso-based drinks. The result, according to the company, is a more nuanced and flavorful cup of coffee.
In addition to its hardware, Spinn also has an online marketplace selling more than 700 different types of whole beans. During an interview at our Food Tech Live event in 2020, Spinn CEO Roderick de Rode told us that when users order coffee from Spinn, they can scan the bag with their phone and precise extraction instructions are sent to the machine.
We actually haven’t seen a ton of coffee-related news so far this year. The similar superautomatic Terra Kaffe coffee machine raised $4 million in November of last year. And Trade raised $9 million for its online coffee marketplace last September.
De Rode told TechCrunch that his company will use the new funding to further develop its brewing technology and scale up production to fulfill outstanding orders for the machine.