3 Eye-Catching That Will Transcend Coffee Local Sustainability Challenges In A Global Industry Enlarge this image toggle caption Shutterstock.com Shutterstock.com San Diego-based coffee company Roasters, which has been growing locally since 2002, is currently raising about $20 million in financing from U.K.-based investment bank Bovine Capital Group.
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Roasters and the RFI, a tech startup founded by former Microsoft executives, unveiled their visions at the annual Open University conference in Berlin. “We’ve been very clear with our plan to continue raising funding for Roasters, because our core mission at us is to improve the ecosystem of coffee,” said Rick Stern, cofounder of Roasters and an open-tech entrepreneur who founded RFI. (About five of his fellow Roasters partners will receive around 2 percent of the operating expenses and up to 36 percent of profits from the company.) “Today’s news offers us another indication of Roasters’ commitment to developing a rich ecosystem that keeps people around us. This new funding offer is an extremely important step for our success of promoting sustainable coffee,” RFI said in a statement.
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The company plans to raise about $50 million over 30 a fantastic read from a federal seed round backed by Seattle-based Blue Cross Blue Shield of America as well as from investor group Qualcomm Ventures and several other equity investors, according to a summary of its 2016 revenue. According to the details of the seed round, Roasters has $150 million in seed funding — with the latter $28 million for Round 3 and $20 million for Round 4. The company is also leveraging a $42 million Fidelity & Co. funding round to $270 million from a few previously existing players along with a $28 million investment from Citi Perkins. Related article: The Fastest Growing Tech Companies Of All Time But none of that would be possible without roasting.
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The roasting process in the Roasters plant processes tea from a variety of traditional and new teas before delivering the coffee to customers. In a 2014 story, CUPE president Eric LeDoux called himself a “world-class coffee maker” in California. He has been producing roasting beans since 2006. The company has been in business since 1994, and it produces stepper-style coffee for local nonprofits through grants from the Oakland Public Library and the University of California at Berkeley’s Marshall Center in Berkeley’s Science Building. “Roasters is so uniquely suited to a large international ecosystem that includes Silicon Valley, San Diego,
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