Austin startup behind new coffee kiosks raises millions to advance plans

Feb 3, 2015
Austin Business Journal

Automated coffee vending machine company Briggo Inc. reported raising $5.7 million of a planned $6.3 million financing

The Austin-based company collected the capital from 18 investors, according to a Monday filing with the U.S. Securities and Exchange Commission

Briggo, which launched in 2011, develops automated coffee vending kiosks that it plans to install primarily in universities, airports, hospitals and office buildings

In mid-2013, the startup raised $2.1 million of a planned $3 million financing from 16 investors, SEC filing indicates. The funding came one month after it hired two Starbucks Corp. (Nasdaq: SBUX) veterans to focus on its coffee sourcing, roasting, product development and marketing efforts

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