Botrista, the maker of an automated beverage system, has closed a major funding round led by global restaurant conglomerate Jollibee Foods Corp.
The Series C round brings Botrista’s total capital raised to $120 million. It follows a $55 million Series B round in 2022. Botrista declined to provide the amount of Jollibee Foods' investment.
Botrista’s DrinkBot machine is designed to allow restaurants to serve a variety of premium, check-boosting cold drinks such as boba, cold brew coffee and smoothies without the need to hire or train specialized staff. The robot, which is about the size of a regular soda fountain, mixes beverages to order in about 20 seconds at the push of a button.
Philippines-based Jollibee, which owns the flagship Jollibee fast-food chain as well as Smashburger, Coffee Bean & Tea Leaf and 15 other restaurant brands around the world, called Botrista a “game-changer.”
“We're investing in a company that enables food service operators to deliver a world-class customer experience and provides substantial runway for sustained profitable growth,” said Jollibee Chairman Tony Tan Caktiong in a statement.
Jollibee is one of the largest restaurant chains in the world, with more than 1,600 total locations, about 70 of which are in the U.S.
Botrista said it would use the funding to meet strong demand for its technology as well as invest in artificial intelligence to help its customers create data-driven beverage menus.
The San Francisco-based company was founded in 2017 and has clients in 37 states. They range from chain restaurants to independents as well as nontraditional locations such as college campuses, movie theaters and theme parks.
“The timing of this fundraising perfectly aligns with the high demand from new partners and significant interest from growing restaurant brands on a global scale,” said Jason Valentine, Botrista’s chief strategy officer, in a statement.
It comes amid growing demand for beverages like boba, cold coffee items and energy drinks, especially among younger consumers.
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