Bean-free coffee startup Prefer raised $2 M Seed funding from Forge Ventures

To secure the world’s coffee supply, Singapore-based Prefer’s bean-free coffee has raised $2 million in a seed round.

Forge Ventures led the round, according to a statement released by the company on Thursday. Other investors included 500 Global, A*celerate, Better Bite Ventures, Sopoong Ventures, SEEDS Capital, Entrepreneur First, and Pickup Coffee.

The statement claims that the strategic raise enables Prefer to expand its ground coffee and ready-to-drink bottled beverages across Asia-Pacific, beginning with Singapore and the Philippines, and to make major investments in growing the capacity of its production facility.

One of the most widely consumed drinks in the world, coffee is said to be in jeopardy due to climate change.

It is predicted that half of the farmland used for growing coffee will be unusable by 2050.

“Our mission is to future-proof coffee from the impacts of climate change; we plan to create delicious, affordable, and sustainable coffee, forever,

“Today, we start as a climate-friendly option on the menu. But, as climate change erodes coffee farmlands, erratic weather puts crops at risk, and demand continues to rise, coffee bean prices will skyrocket,” said Jake Berber, Co-Founder and Chief Executive Officer of Prefer.

“That’s where Prefer comes in to ensure the production and price of coffee becomes sustainable and stable in the long-run,

“We believe Prefer is the next-generation of the commodity we know as coffee today,” he added.

According to Ding Jie Tan, Co-Founder and Chief Technology of Prefer, fermentation has been utilized historically to create flavors, preserve ingredients, and improve the nutritional value of food. It is as old as human civilization.

“Through Prefer, we want to further its conventional use by leveraging cutting-edge science to create a line of sustainable flavors that’s accessible to everyone while conserving the environment,” he added.

Prefer’s unique fermentation technology, according to the statement, repurposes leftover bread, soy pulp, and spent grain to produce a coffee alternative that has the same flavor, aroma, and brewing experience as regular coffee.

The company’s business-to-business (B2B) clientele, which includes cafes, coffee chains, distributors, and flavor houses, are looking for a more cost-effective and environmentally friendly source of coffee. They supply ground coffee that works with standard espresso machines.

Additionally, the company provides ready-to-drink coffee in bottles for events, retail shelves, and quick-service restaurants.

Prefer assists companies striving for sustainability in reducing their carbon footprint.

The company generates an estimated 10 times less carbon dioxide than conventional coffee beans, making it a leader in the more sustainable coffee industry, even though a full lifecycle analysis is necessary to measure carbon footprint accurately.

It should be mentioned that Prefer’s caffeine content is extremely adjustable, allowing for the customization of caffeine levels to suit individual consumer demands.

It should be mentioned that some cafes in Singapore have begun to serve Prefer as their standard decaffeinated coffee; others intend to serve a beverage with twice the amount of caffeine found in regular coffee.

Twelve locations in Singapore carry Prefer, including Dough, the winner of the 2023 Barista Championships, Foreword Coffee Roasters, and a few SaladStop! locations.