Just as President Donald Trump's steel and aluminum tariffs cast a shadow on the country's booming canned beverage industry, an Austin startup has announced an influx of funding that will help it expand its reach.
HeatGenie, which developed a self-heating beverage can that warms contents to 150 degrees within about two minutes, announced Monday it has closed a $6 million funding round led by San Francisco-based ARTIS Labs. New York-based Almanac Investments and other private investors were also in on the round.
HeatGenie, founded by Brendan Coffey in 2008 and led by CEO Mark Turner, previously raised about $3.2 million. That includes seed funding from the Texas Emerging Technology Fund and the Central Texas Angel Network, as well as a recent investment from former Whole Foods co-CEO Walter Robb, who is now on HeatGenie's board of directors.
"We have always had an incredibly positive response to our technology from CPG brands, many expressing early interest in embedding HeatGenie into products," Turner said in a news release. "Now, with a commercialized and scalable solution ready for market, we are already partnering with beverage companies eager to give consumers a simple way to instantly heat coffee, tea, soup, broth, or sake, wherever and whenever they please."
HeatGenie has a patent on its self-heating cans, and it is looking to partner with beverage and food companies as part of its expanding commercialization plans.
Here's a look at how it works:
