California-based Botrista Inc., known for its automated coffee and tea solutions, has closed a $65 million Series C funding round led by Filipino foodservice giant Jollibee Food Corporation (JFC). This marks a significant milestone for Botrista, which has now raised a total of $120 million since its inception in 2021. JFC’s latest investment follows its acquisition of a 10% stake in Botrista for $28 million three months ago.
Founded in 2021, Botrista specializes in automated beverage systems tailored for coffee shops, restaurants, and hospitality businesses looking to expand their menus with offerings like bubble teas, smoothies, iced coffee, and flavored lemonades.
The funding will support Botrista’s aggressive expansion into new markets globally, meeting the increasing demand for its machines. Additionally, the company plans to enhance its technological capabilities by investing in artificial intelligence (AI) for data-driven beverage menus and research and development.
Jason Valentine, Chief Strategy Officer at Botrista, expressed confidence in the timing of the fundraising, citing strong interest from new partners and growing restaurant brands worldwide.
Including the recent Series C round, Botrista previously raised $10 million in July 2021 and $45 million in October 2022.
While the specific amount of JFC’s total investment remains undisclosed, the partnership underscores JFC’s strategic focus on enhancing its coffee and tea offerings across its portfolio, which includes well-known brands like The Coffee Bean & Tea Leaf, Highlands Coffee, Milksha, and Common Man Coffee Roasters.
According to Tony Tan Caktiong, Chairman of JFC, the investment in Botrista aligns with their vision to deliver exceptional customer experiences and drive sustainable growth in the food service sector.
In a disclosure to the Philippine Stock Exchange (PSE) in March 2024, JFC highlighted its strategic intent to strengthen its position in the coffee and tea market through investments like Botrista. This strategy complements JFC’s recent announcement of acquiring a 70% stake in South Korean coffee chain Compose Coffee, solidifying its position as a leader in the industry.
The acquisition of Compose Coffee, expected to close by September 2024, will further expand JFC’s footprint, making it the largest brand in its coffee and tea chain store network.