PourMyBeer, a Chicago startup that creates a system that allows bars to offer self-serving taps, just received an investment from Coca-Cola that will bring its self-pour technology to Europe.
The company announced that CCEP Ventures, the investment arm of Coca-Cola European Partners, has acquired a 25% stake in Innovative Tap Solutions (ITS), the company behind PourMyBeer. New York investment firm Branded Strategic Hospitality also participated in the round. Other financial terms of the deal weren't disclosed.
Founded in 2012, PourMyBeer's technology allows people to pour their own drinks at bars and restaurants and pay by the ounce. The startup says it operates more than 7,000 taps at bars, restaurants, casinos and hotels across the world. Its customers include Buffalo Wild Wings, Whole Foods and Caesars Entertainment, along with self-serve bars in Chicago like Tapster in Wicker Park and Lincoln Park, and Navigator Taproom in Logan Square.
With the new investment, CCEP will work to bring the startup's self-pour dispense technology to Western Europe, starting with a trial in Spain.
Coca-Cola European Partners launched CCEP to invest in innovative beverage businesses, particularly around sustainability.
“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 in a statement. "[Innovative Tap Solutions] is an exciting and ambitious business. "
As the self-pour bar trend has increased across the country in recent years, PourMyBeer believes there's an opportunity to grow even beyond booze, calling itself "liquid-agnostic." Case in point: the startup launched a self-serve cold brew coffee service at Chicago tech hub 1871.
