In 2020, Botrista (think robotic barista) raised $4 million in Seed funding for its automated beverage dispenser DrinkBot. In 2021, a successful Series A round raised $10 million. This was followed by a Series B round in 2022 that brought in $55 million.
The automated beverage solutions provider recently closed its Series C funding, raising the total capital to a remarkable $120 million. Botrista is using this latest funding, in part, to invest in artificial intelligence that will support its customers in creating data-driven beverage menus as well as meet the platform’s growing demand.
One of the big investors in this last round was Jollibee Foods Corp, the restaurant conglomerate with a global presence. Jollibee, their flagship brand, is the fastest-growing Asian restaurant company in the world. Over 1,500 stores are spread across the globe in 33 countries, with 100 in North America. Currently, 18 brands fall under this parent company.
In a recent statement, Tony Tan Caktiong, Jollibee Chairman, said, “We’re investing in a company that enables food service operators to deliver a world-class customer experience and provides substantial runway for sustained profitable growth.”
Why the Interest?
Craft drinks have been big business for some time, and the restaurant industry has taken notice. The problem lies in the required footprint and increased labor. The developers of Botrista took the pain points away by creating an automated craft drink solution that’s about the size of a regular soda fountain. High-margin craft drinks suddenly become available without the added labor or complex operational changes. Customers are guaranteed the same consistent drink they’ve come to love every time.
Suddenly, an innovative beverage menu is part of a restaurant’s offerings, with drinks that are made in under 20 seconds with the push of a button. Today, the DrinkBot is found in 37 states and various venues, from restaurants to theme parks and movie theaters.
The Rise of Non-Alcoholic Craft Beverages
As Generation Z enters the market, the tides are shifting, trending away from traditional cocktail beverages. Botrista offers restaurants the opportunity to get in on this game-changing trend, providing operators with easy access to drinks that include boba teas, lattes, energy drinks, flavored lemonades, cold brew coffee, smoothies, and more.
Craft beverages are defined by their high-quality ingredients, an essential aspect of Botrista’s makeup. The ingredients the DrinkBot incorporates include high-quality tropical fruits from around the world, obtained by partnering with leading ingredient manufacturers.
An Observation Followed by Action
Founded in 2017, Botrista was born from observation. Working out of a café in Taiwan, the co-founders observed a long line forming as baristas made coffees and milk teas during the lunch rush. They realized that the complicated builds took time, reducing customer service. They also noticed that the limited drink menu left many customers ordering water.
And so, Botrista, the DrinkBot, was born.
This story is a perfect example of seeing a need and filling it. The next time a good idea pops into your head, you may want to see where it leads.
The EMERGING Fund
EMERGING also spotted the potential in this automated beverage solutions provider, investing in Botrista in June and October of 2023. In a recent interview with Mathew Focht, the CEO and founder of EMERGING, he shared this about the investment, “It’s also been a really good year for some of our investments in tech. We invested in Botrista, which automated drinks for the restaurant industry. It was built by a Tesla engineer who invested in a bubble tea company and witnessed the challenges restaurants face in labor. So, he built a machine with 93 patents that created craft beverages, from popular energy drinks to premium iced teas, high-quality coffees, and desserts. This machine is now coming to the market and has experienced exponential growth. Today, we’re working on $100 million contracts.”
To learn more about the EMERGING Fund and its innovative portfolio investments, contact EMERGING.
