In 2013, Ricardo Lopez founded Bellwether Coffee with a lofty goal: transform the way coffee is roasted, distributed, and sold. His pitch convinced investors to fork over $10 million in August 2018 for a slice of a market that’s anticipated to be worth $680 million by 2024. Today, Berkeley, California-based Bellwether announced that it’s raised $40 million in series B funding led by DBL Partners and brothers Lyndon and Peter Rive. The round saw additional contributions from FusionX, Congruent Ventures, Coffee Bell, Tandem Capital, Spindrift Equities, XN Ventures, Balius Partners, and Hardware Club, and it brought Bellwether’s total raised to nearly $60 million.
CEO Nathan Gilliland said the funds will accelerate Bellwether’s efforts to boost incomes for coffee farmers and eliminate roast processes harmful to the planet, and to meet global demand for its recently announced electric roaster.
“We are thrilled to be working closely with DBL, Lyndon and Peter Rive to help accelerate our already rapid growth,” said Gilliland. “We expect in-store roasting at cafes and grocery locations to become the rule, not the exception. We are proud that the Bellwether Roaster has become the most consistent and controllable commercial coffee roaster available.”
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