Cafe X’s $12 Million “Seed-1” Round To Boost The Global Coffee Market

Posted on: Feb-2019 | By: MarketDeeper | Consumer Goods & Retailing

Cafe X, a company engaged in building robot baristas, is about to raise a $12 Million “Seed-1” round. Recently, Crunchbase News broke the story when it came across regulatory filings, which demonstrated that Cafe X has raised a new round of almost $9.42 Million. Later, Henry Hu, Founder and CEO, Cafe X, verified this news with Crunchbase. This move by the firm is expected to propel the Coffee market on regional as well as international level.

This new round is being headed by Jason Calacanis, a famous angel investor, and Craft Ventures. The latest $9.4 Million amount added so far gets the Cafe X’s raised total amount to almost $14.5 Million. While Cafe X owns about two committed indoor locations in downtown San Francisco, the firm recently came into the news as it installed its advanced barista-bot-in-a-box on a street corner and in downtown SF as well. These automated kiosks are intended to provide their services in high-traffic areas where people will get an opportunity to grab a quality coffee instantly.

However, Cafe X is not the only firm in the robot coffee sector. Briggo, an Austin-based firm that makes the Coffe Haus, just mounted its automated coffee stall at its new location in the Austin Airport. And soon this summer, the robotic MontyCafe is supposed to be up and running in Russia. This move in the coffee market highlights its inclination towards advanced devices.

Most probably, Cafe X’s latest money is supposed to be utilized to appoint numerous software and engineering teams. The other motive of this money is to assist fuel expansion, as this kind of money generally does. Earlier this year, Hu proclaimed that while Cafe X has obtained inbound interest on a global level for their robot barista, geographic development is supposed to focus initially on the Bay Area.