Latest news with #Prefer
Associated Press
2 days ago
- Business
- Associated Press
Prefer Launches Soluble Coffee and Cocoa Powders, Raises Oversubscribed US$4.2M Pre-A to Fuel International Expansion
Funding round co-led by At One Ventures and Chancery Hill Capital, with continued participation from Forge Ventures. 'With the support of our new partners, the quality of our new products, and the grit of this team, we're in a unique position to ensure coffee and cocoa are accessible to the masses.'— Jake Berber, Co-Founder & CEO SINGAPORE, SINGAPORE, SINGAPORE, August 15, 2025 / / -- Prefer Launches Soluble Coffee and Cocoa Powders for Food Industry, Raises Oversubscribed US$4.2M Pre-A to Fuel International Expansion Funding round co-led by At One Ventures and Chancery Hill Capital, with continued participation from Forge Ventures. Prefer, a Singapore-based food tech startup using fermentation to create affordable and sustainable flavours and ingredients, today announced an oversubscribed US$4.2 million fundraising round alongside the commercial launch of its new products: soluble coffee and cocoa powders. The company, which is a spin-off from the Agency of Science, Technology and Research (A*STAR), Singapore's lead public sector research and development (R&D) agency, also announced its first commercial partnerships for international expansion with Ajinomoto Co., (Thailand) Ltd and The Coffee Ferm in Thailand and Australia, respectively. Made from food manufacturing byproducts such as rice and soy, Prefer's flavours are developed using a proprietary fermentation and roasting process. The company supplies its flavours and ingredients to FMCG brands, food manufacturers, private label retailers, and flavour houses, offering affordable ingredients that replicate the taste and functionality of coffee and cocoa at a fraction of the carbon footprint. According to its life cycle analysis, Prefer's coffee has up to 85% lower emissions and is 50% more affordable than the current market prices of traditional Arabica. Prefer invites coffee and cocoa companies to connect and sample the ingredients via their website, offering partners a commercially proven ingredient that drives cost savings, strengthens supply chain resilience, and supports the planet. 'This funding supercharges our mission to prove that fermentation is the key to unlocking the immense biochemical potential hidden within our food system's byproducts, creating a truly sustainable and resilient way to produce the flavours we love,' says Ding Jie Tan, Co-Founder & CTO of Prefer. 'With the support of our new partners, the quality of our new products, and the grit of this team, we're in a unique position to ensure coffee and cocoa are accessible to the masses while respecting our planet,' says Jake Berber, Co-Founder & CEO. This funding round brings Prefer's total equity raised to US$6.2 million. The lead investors are At One Ventures and Chancery Hill Capital, with participation from existing investor, Forge Ventures. 'We're in the early stages of a food system transformation, one that decouples beloved consumer products from environmentally harmful supply chains,' says Helen Lin, Partner at At One Ventures and board member at Prefer. 'Our investment in Prefer reflects both the urgency of reducing our food system's agricultural footprint and our conviction in this team's ability to deliver a sensory-equivalent experience with radically lower environmental impact, all while driving cost savings for customers. By reducing the need for commodity coffee and cacao farming, Prefer is enabling a future where taste and climate alignment can go hand in hand.' The startup recently commercialised its coffee products through foodservice channels, collaborating with Melvados, a Singaporean food business. The company also announced its first international commercial partnerships. In Thailand, Prefer is working with Ajinomoto Co., (Thailand) Ltd. to develop sustainable new innovations under coffee beverage aligned with the 'Eat Well, Live Well' lifestyle. In Australia and New Zealand, the company has partnered with The Coffee Ferm, which will license Prefer's flavour IP to scale local manufacturing and distribution. Prefer plans to scale its pilot production facility through toll manufacturers in key markets, deepen R&D on cocoa flavor development, and expand global partnerships with a continued focus in Asia. About Prefer Founded in 2022 by Jake Berber and Ding Jie Tan, Prefer is a Singapore-based food tech company using fermentation to create affordable and sustainable flavours and ingredients. Starting with coffee and cocoa, Prefer transforms upcycled ingredients into climate-resilient alternatives for the food industry. Press contact: Prefer Jake Berber, [email protected] Media kit: Jake Berber Prefer [email protected] Visit us on social media: LinkedIn Legal Disclaimer: EIN Presswire provides this news content 'as is' without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the author above.
Yahoo
4 days ago
- Business
- Yahoo
Beanless coffee maker Prefer strikes global production tie-ups
Prefer, a Singapore-based start-up making beanless coffee products and ingredients, has struck two new commercial partnerships, which will see it work with two food and drink companies to produce products in Thailand and Australia. The group said it marked the group's "first international commercial partnerships". The news was announced alongside the closure of a $4.2m fundraising round, led by At One Ventures and Chancery Hill Capital, with participation from existing investor Forge Ventures. In a statement, Prefer said it would be working with Japanese food and drink major Ajinomoto's Thailand arm to 'develop sustainable new innovations" in coffee drinks for the Thai market. Specific details of the future product being produced with Ajinomoto are confidential, according to video from Prefer shared on LinkedIn today (13 August). Prefer has also granted Australian FMCG company The Coffee Ferm a licence for its proprietary fermentation technology to allow it to manufacture and distribute Prefer coffee products locally. Prefer co-founder Jake Berber told Just Drinks that both these partnerships are long-term. He added that the starting times of both these tie-ups was dependent on "regulatory and manufacturing readiness" but that it was "pushing to get to market as soon as possible". Berber founded Prefer in 2022 alongside Ding Jie Tan. The group currently supplies its beanless coffee to FMCG companies in Singapore, including Melvados which has used Prefer's coffee ingredients in a beanless coffee ice cream product. Prefer also sells a beanless coffee iced latte RTD product throughout the region, according to its website. Alongside the news, the group also announced the launch of two new products: soluble coffee and cocoa powders. Prefer plans to sell these throughout the Asia-Pacific region and have already launched them for sampling purposes with food and beverage groups. "We are targeting large food and beverage companies to integrate our ingredients into their products," said Berber. Prefer's latest investment round brings its total amount raise to date to to $6.2m. In a statement, Prefer said it plans to 'scale its pilot production facility through toll manufacturers in key markets, deepen R&D on cocoa flavour development, and expand global partnerships with a continued focus in Asia'. Berber said the group would use the investment to scale its coffee production output to 500 tonnes a year through its third-party manufactures based in Asia–Pacific outside Singapore. Money will also go towards scaling cocoa production at its Singapore pilot facility before shifting to third-party manufacturers to carry out larger volumes. Berber also told Just Drinks that another funding round is expected within 18–24 months to support further expansion. The startup's alternative coffee and cocoa products are made from food manufacturing byproducts such as rice and soy, using a proprietary fermentation and roasting process. Prefer claims to offer affordable ingredients that 'replicate the taste and functionality' of coffee and cocoa, with a reduced carbon footprint. Prefer said its life cycle analysis shows its coffee has up to 85% lower emissions and is 50% more affordable than traditional Arabica coffee. "Beanless coffee maker Prefer strikes global production tie-ups" was originally created and published by Just Drinks, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site.
Business Wire
4 days ago
- Business
- Business Wire
Prefer Launches Soluble Coffee and Cocoa Powders for the food industry, Raises Oversubscribed US$4.2M Pre-A to Fuel International Expansion
SINGAPORE--(BUSINESS WIRE)--Prefer, a Singapore-based food tech startup using fermentation to create affordable and sustainable flavours and ingredients, today announced an oversubscribed US$4.2 million fundraising round alongside the commercial launch of its new products: soluble coffee and cocoa powders. The company also announced its first commercial partnerships for international expansion with Ajinomoto Co., (Thailand) Ltd and The Coffee Ferm in Thailand and Australia, respectively. 'With the support of our new partners, the quality of our new products, and the grit of this team, we're in a unique position to ensure coffee and cocoa are accessible to the masses while respecting our planet,' says Jake Berber, Co-Founder & CEO Share Made from food manufacturing byproducts such as rice and soy, Prefer's flavours are developed using a proprietary fermentation and roasting process. The company supplies its flavours and ingredients to FMCG brands, food manufacturers, private label retailers, and flavour houses, offering affordable ingredients that replicate the taste and functionality of coffee and cocoa at a fraction of the carbon footprint. According to its life cycle analysis, Prefer's coffee has up to 85% lower emissions and is 50% more affordable than the current market prices of traditional Arabica. Prefer invites coffee and cocoa companies to connect and sample the ingredients via their website, offering partners a commercially proven ingredient that drives cost savings, strengthens supply chain resilience, and supports the planet. 'With the support of our new partners, the quality of our new products, and the grit of this team, we're in a unique position to ensure coffee and cocoa are accessible to the masses while respecting our planet,' says Jake Berber, Co-Founder & CEO. This funding round brings Prefer's total equity raised to US$6.2 million. The lead investors are At One Ventures and Chancery Hill Capital, with participation from existing investor, Forge Ventures. 'We're in the early stages of a food system transformation, one that decouples beloved consumer products from environmentally harmful supply chains,' says Helen Lin, Partner at At One Ventures and board member at Prefer. The startup recently commercialised its coffee products through foodservice channels, collaborating with Melvados, a Singaporean food business. The company also announced its first international commercial partnerships. In Thailand, Prefer is working with Ajinomoto Co., (Thailand) Ltd. to develop sustainable new innovations under coffee beverage aligned with the 'Eat Well, Live Well' lifestyle. In Australia and New Zealand, the company has partnered with The Coffee Ferm, which will license Prefer's flavour IP to scale local manufacturing and distribution. Prefer plans to scale its pilot production facility through toll manufacturers in key markets, deepen R&D on cocoa flavour development, and expand global partnerships with a continued focus in Asia. About Prefer Founded in 2022 by Jake Berber and Ding Jie Tan, Prefer is a Singapore-based food tech company using fermentation to create affordable and sustainable flavours and ingredients. Starting with coffee and cocoa, Prefer transforms upcycled ingredients into climate-resilient alternatives for the food industry. Media Kit
Associated Press
29-04-2025
- Business
- Associated Press
Preferred Hotels & Resorts Welcomes 19 New Member Properties
NEW YORK, April 29, 2025 (GLOBE NEWSWIRE) -- Preferred Hotels & Resorts, the world's largest independent hotel brand, is pleased to announce the addition of 19 new member properties to its global portfolio between January 1 and March 31, 2025. To celebrate, I Prefer Hotel Rewards members can earn 2,500 bonus points on eligible stays at any of these participating locations for a limited time. Ranging from a family-oriented coastal retreat on the shores of Taiwan to a Blueridge mountainside adventurer's escape, each of these distinct properties will greet travelers with thoughtful personalized service and unique unforgettable experiences that define independent luxury hospitality. Highlights include: 'We are delighted to welcome these 19 exceptional properties to our global portfolio in the first quarter of 2025,' said Lindsey Ueberroth, CEO of Preferred Hotels & Resorts. 'This strategic expansion in 12 countries highlights our commitment to providing a diverse range of luxury experiences that cater to every type of traveler, and it serves as a strong foundation for continued growth and momentum throughout the year.' Other member properties to have joined Preferred Hotels & Resorts' global portfolio from January 1 through March 31, 2025, include: Many of these new member hotels participate in I Prefer Hotel Rewards, the brand's points-based loyalty program with 5 million travelers enrolled globally. Complimentary to join, members of I Prefer earn points redeemable for cash-value Reward Certificates, Titanium status, and other value-rich benefits from eligible stays at over 600 participating hotels and resorts worldwide. Travelers seeking memorable independent hotel experiences are invited to sign up at For a limited time only, new and existing members of I Prefer Hotel Rewards will earn 2,500 bonus points on eligible stays at any of these participating new member properties. Valid on bookings made by June 30, 2025, for stays between April 3 and September 30, 2025. For additional details and to book this special offer, visit Travel advisors and agents can book client stays via GDS using the 'PH' and 'PV' chain codes. For hotel owners and operators exploring options to stay or become independent, visit About Preferred Hotels & Resorts Preferred Hotels & Resorts is the world's largest independent hotel brand, representing more than 600 distinctive hotels, resorts, residences, and unique hotel groups across 80 countries. Through its curated global collections, Preferred Hotels & Resorts connects discerning travelers to the singular luxury hospitality experience that meets their life and style preferences for each occasion. Every property within the portfolio maintains the high-quality standards and unparalleled service levels required by the Preferred Hotels & Resorts Integrated Quality Assurance Program. The I Prefer™ Hotel Rewards program, Preferred Residences℠, Preferred Pride℠, and Preferred Golf™ offer valuable benefits for travelers seeking a unique experience. For more information, visit Media Contact: Kate Calciano Coordinator, Public Relations Office: + 1 646-465-9786 Mobile: +1 929-215-6608 [email protected]
