UK “functional coffee” and matcha company Reformed has raised a US$22 million Series A round led by Iris Ventures, with plans for a U.S. launch.
Launched by Neil Saada and Neil Marrakchi in 2024, Reformed sells powdered arabica coffee and “ceremonial-grade matcha” products blended with functional ingredients such as collagen, creatine, mushrooms, vitamins and minerals.
“In just two years, the company has scaled to over $70M in annualised revenue, achieved profitability, built a highly engaged community and become one of Europe’s fastest-growing consumer brands,” Iris Ventures said in a LinkedIn announcement.
Marrakchi told Tech Funding News that Reformed is targeting a $100 million revenue run rate by the end of 2026, with a U.S. launch planned for the third quarter.
The company is part of a growing field of startups positioning coffee and coffee-adjacent products around concepts of wellness, supplements and daily rituals.
In the U.S., Austin, Texas-based Everyday Dose has built a following around mushroom coffee blended with collagen and nootropics, while mushroom-coffee brand Ryze Superfoods has scaled around mushroom coffee through direct-to-consumer sales and social media. Forbes estimated earlier this year that Ryze could be worth $600 million in an acquisition.
U.S.-based Clevr Blends, a functional coffee and tea brand, has raised $2.78 million, according to PitchBook, while expanding beyond direct-to-consumer sales into Target stores.
In Europe, Reformed’s backer Iris Ventures has been building out a broader wellness and beauty portfolio, backing brands such as Healf, Goddess and Innerskin and Superlativa.
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