Prefer Raises $4.2M in Oversubscribed Round, Launches Soluble Coffee & Cocoa Powders Made With Fermentation

Singapore-based food tech startup Prefer has raised US$4.2 million in a funding round led by At One Ventures and Chancery Hill Capital, bringing their total funding to US$6.2 million. The startup has also launched soluble coffee and cocoa powders made using a proprietary precision fermentation process, utilizing upcycled food manufacturing byproducts like rice and soy to replicate the taste and functionality of coffee and cocoa with a lower carbon footprint.

Prefer's products have already seen commercial success, with partnerships in Singapore, Thailand, Australia, and New Zealand to expand their reach. The startup plans to scale production through toll manufacturers in key markets, conduct further research and development on cocoa flavor development, and continue to focus on expanding global partnerships in Asia. With their innovative products and sustainable practices, Prefer aims to make coffee and cocoa more accessible while respecting the planet's resources.