Speciality coffee shop group and roaster 92 Degrees is seeking to raise £3m to support its expansion plans.
CEO Jack Brewitt said the ‘small Series A’ investment round has raised £1m from existing investors since launching at the start of August 2023.
New investors will be invited to join the round at the of September, with seed funding set to conclude at the end of the year.
Commenting on the support from investors so far, Brewitt said: “Their unwavering support and belief in our vision is a testament to our incredible team and the work we have done so far!
“We’ve been humbled by the tremendous interest from investors who are eager to join us on this incredible journey.”
92 Degrees opened its first roastery in Liverpool in 2014 and its first coffee shop the following year. It currently operates 11 stores across the UK, the latest of which opened in Edinburgh in May 2023.
The funding round comes just over a year after the group secured £1.4m ($1.7m) of private investment to fund eight new sites.
In June 2022, 92 Degrees said the funding would primarily facilitate outlet growth in Liverpool, London and Manchester.
