Speciality coffee roaster, Origin Coffee, has secured a £1 million investment from the Cornwall & Isles of Scilly Investment Fund (CIOSIF), managed by The FSE Group.
The investment is part of a £3.1 million funding round with other investors including Create Impact Ventures and Yeo Valley.
The funding will be used to enable the growth of the business, which already boasts an innovative Cornish roastery, loyal customer base and a number of coffee shops. A significant focus on digital activity will support expansion of its direct-to-consumer retail rollout as well as further wholesale channels. New jobs will be created across a number of head office functions at its Porthleven base.
A certified B Corp, Origin Coffee is committed to improving ethical sourcing and sustainability within the industry, pledging to increase direct Green Coffee purchases from farmers by 77% over the next four years.
On raising external investment for the first time in the company’s 18-year history, founder and CEO Tom Sobey said: “This step offers us the flexibility and opportunity to take the company forward. We take our commitment to sustainability and transparency seriously and the foundation of our business will remain ethical as we grow. We are delighted to have in CIOSIF a Cornwall focused investor who knows where we come from and understands our commitment to the region and we’re so excited to grow together with all our new partners, as well as our long-time friends and supporters.”
Meg Salt, FSE investment manager at CIOSIF, said: “We are thrilled to be adding this thriving Cornish business with sustainability at its core to our portfolio. Tom has built a robust enterprise that has attracted high-profile investors who are committed to supporting this next phase of growth. We look forward to working with the team as the business grows, aiding UK expansion whilst also boosting employment in Cornwall and continuing to bring ethically sourced coffees from around the world to their customers.”
The Cornwall & Isles of Scilly Investment Fund provides debt and equity finance from £25k £2 million to help growing small businesses across the region. It was established by the British Business Bank in partnership with the Cornwall and Isles of Scilly Local Enterprise Partnership.