Water Cooler Machine Bevi Secures $16.5 Million

Bevi announced it has raised $16.5 million in Series B financing. Three investors participated in the round: Trinity Ventures, Horizons Ventures, and Tamarisc.

Bevi is building a network of machines that purify water and create personalized beverages directly from water taps. The company’s system pushes customization to the extreme, automatically tracking users’ preferences and suggesting unique drinks that correspond to personal tastes. Bevi’s goal is to eliminate waste from the production, shipping, and disposing of bottled beverages.

The company revealed that it will use the funding to continue expansion in the U.S., support the launch of a new countertop beverage dispenser, and accelerate the development of IoT-enabled technology that allows consumers to customize beverages at the point of use.