Tech Company Financing Transactions
Blank Street Coffee Funding Round
General Catalyst Partners, HOF Capital and Left Lane Capital participated in a $20 million funding round for Blank Street Coffee. The round was announced by the company on 3/18/2023.
Transaction Overview
Company Name
Announced On
3/18/2023
Transaction Type
Venture Equity
Amount
$20,000,000
Round
Undisclosed
Proceeds Purpose
The fundraise comes at a time when many startups are struggling to raise money, with investors tightening their belts and less willing to fund companies without an immediate path to profitability. Menda and Freiha say that all of Blank Street's New York locations have been profitable on a per-unit basis within a month of opening. The company's promise of automation may also appeal to investors who believe it will lead to fewer headaches. The round comes at a time when dominant chain Starbucks is engaged in a high-profile fight with baristas over a unionization effort.
Company Information
Company Status
Private & Independent
Industry
FoodTech
Mailing Address
10 Grand Street, 3rd Floor Brooklyn
New York, NY 11249
USA
New York, NY 11249
USA
Phone
Website
Email Address
Overview
Founded in the summer of 2020 Blank Street was born from the idea that great coffee should not come at a premium. Like most of us, Issam and Vinay (our founders) have always loved coffee. But when they became students and friends in NYC, they realized they couldn't afford the best coffee everyday, and the cheaper options weren't nearly as good (a tough pill to swallow). Here's where their challenge was born: how do you offer amazing coffee that's affordable and accessible, without compromising on quality or barista experience? Ice and Vin decided to answer it.
Profile
Social Media
Company News
Facebook
YouTube
Management Team
Title
Name
Email & Social
Chief Executive Officer
Issam Freiha
Co-Founder
Vinay Menda
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