The Ventures , an early-stage startup investment firm, announced that it has invested in Wake, a food tech startup that operates Sans, a bean-free alternative coffee brand.
This round was co-invested by The Ventures and Signite Partners, a corporate venture capital firm of Shinsegae Group. The investors highlighted the market potential of alternative coffee technologies that do not use coffee beans, amidst growing structural uncertainty in the coffee industry due to climate change-induced declines in coffee production and rising coffee bean prices.
Sans, an alternative coffee developed by Wake, utilizes a variety of natural ingredients, including jujube seeds and chicory root, to recreate the aroma and flavor of coffee. Combining molecular analysis and reproducing coffee flavor with traditional fermentation processes, it aims to address the issues of flavor loss and residual caffeine found in conventional decaffeinated coffee.
Sans has adopted a system that simplifies the extraction process, increasing store operational efficiency. It is also recognized for its structure, which reduces carbon emissions and water usage compared to whole bean coffee. Building on these characteristics, Wake is pursuing expansion into various channels, including cafes, retail, and business-to-business markets.
Wake plans to use this investment as a catalyst for its full-scale expansion into the global market. It currently operates offline stores and pop-up stores in major commercial districts in Korea and is also considering expanding its distribution channels to target overseas markets.
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