Singapore-based food tech start-up Prefer announced that it has raised $4.2 million in a Pre-Series A funding round, and has commercially launched its new soluble coffee and cocoa powders, aimed at replicating coffee and cocoa at a fraction of the carbon footprint and at lower cost.
Founded in 2022 by Jake Berber and Ding Jie Tan, Prefer provides climate-resilient alternatives for the food products by transforming upcycled ingredients. The company’s process uses fermentation to transform food manufacturing byproducts, such as rice and soy, into flavors and ingredients that replicate the taste and functionality of coffee and cocoa while significantly reducing their environmental footprint. According to Prefer, its fermentation and roasting process produces coffee with up to 85% lower emissions than traditional Arabica at 50% of the cost.
The company’s ingredients are supplied to FMCG brands, food manufacturers, private label retailers, and flavor houses, offering benefits including cost savings, supply chain resilience and sustainable sourcing.
Alongside the capital raise, Prefer also announced its first international commercial partnerships. In Thailand, it is collaborating with Ajinomoto to develop sustainable coffee beverage innovations aligned with the “Eat Well, Live Well” lifestyle. In Australia and New Zealand, it has partnered with The Coffee Ferm, which will license Prefer’s flavor IP to scale local manufacturing and distribution.
Looking ahead, the company said it plans to scale its pilot production facility through toll manufacturers in key markets, advance research on cocoa flavor development, and expand its global partnerships, with continued focus in Asia.
Jake Berber, Co-Founder and CEO of Prefer, sad:
“With the support of our new partners, the quality of our new products, and the grit of this team, we’re in a unique position to ensure coffee and cocoa are accessible to the masses while respecting our planet.”
The fundraising round was co-led by At One Ventures and Chancery Hill Capital, with continued participation from Forge Ventures, bringing the company’s total equity raised to $6.2 million.
Helen Lin, Partner at At One Ventures and board member at Prefer, said:
“We’re in the early stages of a food system transformation, one that decouples beloved consumer products from environmentally harmful supply chains.”
