Bevi, a Boston, MA-based developer of custom beverage machines, raised $16.5M in Series B funding.
The round was led by Trinity Ventures, with participation from Horizons Ventures and Tamarisc. In conjunction with the funding, Patricia Nakache from Trinity Ventures will join Bevi’s Board of Directors.
The company will use the funds to continue expansion throughout the United States, support the launch of their new counter-top beverage dispenser model, and accelerate the development of IoT-enabled technology that allows consumers to customize their beverages at the Point of Use.
Founded in 2013 by CEO Sean Grundy, Bevi provides a delivery platform for healthy beverages on tap. Its smart water cooler stores natural flavorings and lets users create custom drinks through a touchscreen interface, with options ranging from basics like cold filtered water and cucumber water to more creative concoctions like coconut and peach seltzers.
The company has hundreds of corporate clients, including Apple, Netflix, Fidelity, and GE and is also starting to expand beyond the office into hotels, fitness centers, and schools.