Funds to the tune of $4.2 million have been secured by Prefer, enabling them to debut soluble coffee and cocoa powders devoid of beans.
In an exciting development, Singapore-based startup Prefer has launched soluble bean-free coffee and cocoa powders. The innovation behind these products lies in Prefer's proprietary fermentation and roasting process, which creates coffee and cocoa powders without the use of traditional beans [1][2][5].
Prefer's bean-free ingredients are made using food manufacturing byproducts like rice and soy, effectively upcycling them with biotechnology to replicate the flavor and functionality of traditional coffee and cocoa, but with a much lower carbon footprint [5].
This innovative approach benefits food and beverage manufacturers in several ways:
- Cost Reduction: Prefer's bean-free products offer a more affordable alternative to expensive and increasingly scarce coffee and cocoa beans, caused by rising commodity prices and supply constraints [2][4].
- Scalability: Prefer's technology allows for large-scale production without the risks and costs associated with bean farming, such as weather dependence, agricultural land, and supply chain volatility [1][3].
- Customization: The technology allows for adjustable caffeine content in coffee, enabling product flexibility for manufacturers and consumers alike [4].
Prefer has already partnered with major companies like Ajinomoto (Thailand) and The Coffee Ferm (Australia and New Zealand) to co-develop and license its bean-free technology, signaling commercial viability and expanding production capacity [1][2][5].
In addition, Prefer has raised a $4.2 million funding round led by At One Ventures and Chancery Hill Ventures [6]. The round also includes participation from Forge Ventures, taking Prefer's cumulative funding to $6.2 million.
Prefer's technology is based on a core fermentation and roasting process. The ground coffee can be added to regular ground coffee and used in coffee machines, while the soluble coffee can be incorporated into instant coffee, ready-to-drink products, and other formulations where soluble coffee is used [7].
Prefer's bean-free coffee is up to two times more affordable than a soluble arabica coffee [7]. The startup is also exploring a highly concentrated version of its soluble coffee that could be listed in foods as "natural flavor."
Prefer has been studying what makes coffee taste and smell the way it does for almost three years [8]. The distinct flavors and aromas come from the microbes used in the fermentation process and the processing parameters.
Prefer plans to scale its alt-coffee production to 500 tons annually via toll manufacturing and licensing its IP to food manufacturers [3]. The startup aims to create hybrid, blended products with the biggest coffee companies in the world to make coffee accessible and affordable for the mass market.
Prefer's primary focus is on reducing costs and maintaining flavor, with the sustainability story being a bonus [9]. However, the bean-free production process significantly reduces the environmental impact associated with traditional coffee and cocoa production.
In the future, Prefer's technology could potentially be used to recreate the flavors of cocoa, vanilla, and other crops under threat like hazelnut, offering a sustainable solution to the challenges faced by the food industry.
References: [1] https://www.foodnavigator-asia.com/Article/2021/03/29/Singapore-s-Prefer-raises-4-2m-to-scale-beanless-coffee-and-cocoa-production [2] https://www.foodanddrinktechnology.com/news/singapore-startup-prefer-raises-4-2m-to-scale-beanless-coffee-and-cocoa-production [3] https://www.foodanddrinktechnology.com/news/prefer-to-scale-beanless-coffee-production-to-500-tons-annually [4] https://www.foodanddrinktechnology.com/news/prefer-to-scale-beanless-coffee-production-to-500-tons-annually [5] https://www.foodnavigator-asia.com/Article/2021/03/29/Singapore-s-Prefer-raises-4-2m-to-scale-beanless-coffee-and-cocoa-production [6] https://www.foodnavigator-asia.com/Article/2021/03/29/Singapore-s-Prefer-raises-4-2m-to-scale-beanless-coffee-and-cocoa-production [7] https://www.foodanddrinktechnology.com/news/prefer-to-scale-beanless-coffee-production-to-500-tons-annually [8] https://www.foodnavigator-asia.com/Article/2021/03/29/Singapore-s-Prefer-raises-4-2m-to-scale-beanless-coffee-and-cocoa-production [9] https://www.foodnavigator-asia.com/Article/2021/03/29/Singapore-s-Prefer-raises-4-2m-to-scale-beanless-coffee-and-cocoa-production
- Prefer's unique technology in food manufacturing, which creates affordable, scalable, and customizable bean-free coffee and cocoa powders, has the potential to revolutionize the finance and business sectors, as it presents a solution for rising commodity prices and supply constraints in the food-and-drink industry.
- The startup's successful funding round, led by At One Ventures and Chancery Hill Ventures, indicates a promising future for Prefer's technology and its potential to impact the lifestyle and technology sectors, as it offers a sustainable alternative to traditional food production methods.
- With their innovative approach, Prefer is not only focusing on reducing costs and maintaining flavor but also has the long-term goal of using their technology to recreate the flavors of crops under threat like hazelnut, contributing to the sustainability and investing efforts in the food industry.
