Singapore 14th August 2020 – HAWKERMATIC PTE LTD, has closed a high six figure Venture Capital round of Funding for the Patent-pending KopimaticTM system, which will be rolled out into various coffeeshops and chains from August 2020.
The Made-In-Singapore product was invented by a coffeeshop operator and Founder Mr Jason Thai, who had to endure lack of skilled kopi Tao Chiew, inconsistent standards, absenteeism, and borne out of frustration and necessity, used his mechanical engineering skills and completed the most recent version of the machine with inputs from a mechanical engineering firm.
Hawkermatic joins recent coffee related ventures that has snagged tech funding such as Indonesian based Kopi Kenangan, which has raised US$28 million over 3 rounds, and Xiamen-based US listed Luckin Coffee, with its outlets outnumbering Starbucks in China.
Mr Jason Thai, founder of Hawkermatic, says: “We are delighted to welcome Farquhar VC and on board who brings tremendous domain expertise, value and their users as we grow the business in Singapore and regionally.”
“KopimaticTM had been previewed by dozens of coffeeshop chain owners, and in the new Covid-19 and pandemic environment, automation is increasingly sought after, and we have taken their commercial inputs and feedback into our planned rollout system.” he added.
“A daily community staple – Nanyang coffee and milk tea in coffee shops – varies greatly across shops, and in some instances can taste really off. FVC has led this investment into Kopimatic as we believe that it will bring consistently well brewed Nanyang drinks to the market. The technology had been tested by Jason for a few years, and having taste tested together with a few coffee chains bosses, support the efficiency and productivity gains that Kopimatic will bring to drink stalls islandwide.” said Wong Sang Wuoh, CEO of Farquhar VC.
Hawkermatic targets to rollout 1,000 KopimaticTM systems by 2022.