Evve Seed Round: Reinventing $27B Single-Serve Coffee Market | Industry Insiders Co-Investing | Webinar Wed 06/24 at 12pm ET

Red Bear Ventures Community:

We are reaching out with an equity investment opportunity in the seed round of Evve, a company reinventing the $27B global single-serve coffee market with a patented, plastic-free, compostable pod and tech-enabled brewer that finally brings specialty-grade coffee to the single-serve format.

This opportunity is being championed by RBV community expert Dan Cignarella (CALS '94), who serves as an advisor to the company. Dan spent 13 years as a senior executive at Keurig - the current US single-serve market-share leader - where he led the $650M office channel, Evve's initial market. There are few people better positioned to evaluate a next-gen single-serve B2B coffee business. His conviction about Evve - and his investment in the round - is a meaningful signal to us.

More details can be found in the company's short video and deck.

Evve will launch through the Office Coffee Service (OCS) channel - the same capital-efficient playbook Keurig and Nespresso used - and has already secured five regional OCS partners, a national partner (First Choice), and 10+ specialty roaster LOIs including Intelligentsia, Stumptown, and Counter Culture. Market launch is set for September 2026 in San Francisco, Los Angeles, Chicago, and New York.

This is a $2.5M seed financing on a SAFE. $1.9M has closed and $600K remains open. RBV has been given a $400K allocation. The round closes at 5pm ET on June 30th.

We are excited about Evve for several reasons:

• A deeply experienced team: Founder & CEO Jim Doan spent 25 years in consumer products and home appliances and Brent Toevs brings 30+ years across the coffee industry, including driving mainstream single-serve adoption in the US.

• Evve has solved the 2 key issues facing the multi-billion-dollar category - better tasting coffee and sustainability.

• A genuine product breakthrough: a radically different, yet remarkably simple proprietary pod technology that is disruptive to K-Cup and Nespresso pods.

• A sticky razor/razor-blade model: pods are high-frequency, high-margin consumables, and the OCS channel drives high volume and capital efficiency.

• Significant IRR potential at this valuation - please see a sensitivity analysis here.

• Notable co-investors include senior operators and executives from across specialty coffee, office coffee service, and food-and-beverage CPG - including leaders at several of the most respected US coffee brands and a CPG venture investor behind multiple well-known consumer-brand exits.

The minimum investment is $1,000 and the maximum is $200,000.

We will be hosting a Zoom webinar with the Evve team on Wednesday, June 24th at 12pm ET and will circulate the investment link afterward. To join the Zoom, simply reply to this email.

Thanks!

Dan and Gus

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