Barcelona-based Incapto, a startup aiming to challenge the status quo in the coffee sector, has successfully closed a funding round securing €6 million. This investment was led by P101 and joined by current partners such as JME Ventures, Atresmedia, the Portuguese fund Bynd, and the Drago family office (De Agostini group).
Incapto was born in the midst of the pandemic in June 2020 to address new coffee consumption habits in Spain. The company promotes the consumption of high-quality speciality coffee, along with a super-automatic coffee machine that allows customers to enjoy freshly ground coffee with the immediacy and convenience associated with coffee capsules, but without generating unnecessary waste.
Through its business model, which involves specialty coffee subscriptions for both individuals and businesses, Incapto has achieved remarkable success in just over three years of existence. They have gained a total of 20,000 customers, with a significant portion being subscribers, and have connected more than 2,000 businesses to their corporate coffee platform. With these numbers, the startup closed 2022 with a revenue of €4.2 million and anticipates doubling to more than €8 million this 2023.
The funds obtained in this funding round will enable the company to expand its commercial and operational presence in Italy, France, and Portugal starting this September. Additionally, Incapto will use the acquired funds to develop new coffee machine models and continue its expansion in shopping centres, already having a store in Illa Diagonal, Barcelona.
Similarly, the company plans to double the capacity of its roasting and logistics centre located in Ripollet (Barcelona), from where they ship freshly roasted coffee to both its household and corporate customers.
The company’s estimates, as well as market expectations, point to strong growth in the current year and throughout the 2023-2025 period. Incapto foresees that the coffee market will continue to shift away from capsule consumption. The rise of automatic coffee machines, like those offered by Incapto, and the Bundle model (coffee machine plus specialty coffee) proposed by the startup align perfectly with the demands of an increasingly responsible and conscientious consumer who also seeks to enjoy high-quality freshly ground coffee without sacrificing the convenience of a one-click coffee experience.
Francesc Font, Co-Founder & Co-CEO of Incapto, stated: “Having reached so many households and businesses in just three years motivates us to continue our mission of revolutionizing the coffee world. We believe that change is unstoppable, leading towards specialty coffee, freshly ground with automatic machines, and being responsible towards coffee growers and the environment. We have positioned ourselves as a genuine alternative to coffee capsules by digitizing the entire value chain, and we believe it’s time to export this model to our neighbouring countries.”
Read the orginal article: https://www.eu-startups.com/2023/10/barcelona-based-incapto-secures-e6-million-to-expand-its-specialty-coffee-subscription-operations/
