Branded has converted its $50,000 convertible note in the company’s first investment, Innovative Tap Solutions (ITS), dba PourMyBeer and PourMyBeverage, after spearheading the coming together and partnership between ITS and Coca Cola.
PourMyBeer, the innovative company changing the standards of self-serve, has secured a major investment from CCEP Ventures, the investment arm of Coca-Cola European Partners.
CCEP has acquired a 25% stake in Innovative Tap Solutions (ITS) dba PourMyBeer – the creators of technology that enables consumers to pour their own beverages and increase efficiencies for the hospitality industry. Branded Strategic Hospitality, an investment & solutions platform headquartered in New York City, also participated in the investment.
The investment will see CCEP work with Innovative Tap Solutions to introduce self-pour dispense technology to CCEP’s customers in Western Europe, beginning with a trial in Spain. ITS’s technology allows consumers to pour and pay for drinks themselves – cutting down queues, reducing the need for unnecessary contact and wait times, and freeing up staff.
The partnership also represents another step forward for CCEP’s Action on Packaging strategy, launched in 2017. CCEP is committed to investing and innovating in refillable and dispensed delivery models to eliminate packaging waste and lower its carbon footprint. CCEP is looking at developing suitable dispense solutions for different environments, and the partnership with Innovative Tap Solution is a key part of this initiative.
“We are committed to supporting package-free technology and finding new ways to help our customers increase value, reduce their costs and provide a better experience to consumers,” Nik Jhangiani, chief financial officer at CCEP, said. “ITS is an exciting and ambitious business. We are confident we can help them expand successfully into the soft drinks category and grow their presence in Western Europe.”
This agreement forms part of the wider CCEP Ventures program – which aims to find, fund, and nurture new technology and innovation.
“We’re excited to take this Self-Pour Revolution to the next level with CCEP,” said Josh Goodman, founder and CEO of Innovative Tap Solutions dba PourMyBeer. “Customers and business owners love the concept, efficiency, and experience. We’re a liquid-agnostic company that wants to grow in the non-alcoholic space. Our partnership with CCEP ensures that we can continue investing in our technology to scale with the increasing demand.”
PourMyBeer “PMB” is a fast-growing self-pour beverage technology company with almost 5,300 taps across the globe. PourMyBeer’s proprietary technology is the most efficient method of dispensing beverages – combined with no waste, no loss, reduced labor, better guest experience and higher customer satisfaction, all leading to higher profits.