Juicero, a US-based organic juice company backed by food producer Campbell’s Soup Company and internet conglomerate Alphabet, has raised $70m in its series B round.
The news was disclosed yesterday in a blog post by Mike Harden, senior partner of venture capital firm Artis Ventures, which led the round, investing $25m according to Reuters.
Juicero has created a ‘farm-to-glass’ cold juicing system that incorporates a $699 wifi-enabled juicing press, sealed packs of raw organic fruit or vegetable produce that cost between $4 and $10, and an app that helps users manage their pack deliveries.
Juicero’s presses will begin shipping this summer, with the company already having signed commercial agreements with upscale food chains Le Pain Quotidien and Gracias Madre.
The other series B investors have not been officially disclosed but Juicero said in a press release yesterday it has raised more than $100m altogether from backers including Campbell’s and its Acre Venture Partners unit, Artis, Alphabet corporate venturing subsidiary GV, Kleiner Perkins Caufield & Byers, Thrive Capital, Two Sigma Ventures, DBL Partners and First Beverage Group.
The series B round follows an initial $4m in 2013 and $15.8m the following year, according to regulatory filings.
The extra $10m could represent the cash already raised in a series C round Reuters reports will also be led by Artis, and which is expected to close later this month.
Doug Evans, Juicero’s founder and CEO, said: “Just as the shift from the mainframe computer to desktop PC’s transformed the computing industry, Juicero will exponentially expand the cold-press juicing industry by taking the power of commercial grade cold-press machines and putting it in a device that can fit on your kitchen countertop.
“I am tremendously grateful to our dedicated team who are making it possible to help people achieve optimal health in the most convenient way possible.”
– Photo courtesy of Juicero