Startup raises $2M in funding
A local startup that makes a durable coffee maker has recently closed a $2-million round of funding.
Grand Rapids-based OXX will use the funds from unnamed local investors to increase its inventory, continue the commercialization of its flagship COFFEEBOXX product and begin the process of research and development for its next product line, OXX President Jim Doan said.
The demand for OXX’s coffee maker has ramped up, and the company is looking to increase its inventory to better stock retailers, such as The Home Depot, that carry the OXX line.
Additionally, OXX plans to use the funds to add several jobs in the coming year.
“We’re somewhat of a small company,” Doan said. “We’re hoping to go from six people now to about 10 to 12 by the end of the year.”
Founded in 2013, OXX makes a coffee maker that’s designed to withstand the rigors and elements of the outdoors and construction sites.
COFFEEBOXX is a “crush-proof” and impact-resistant appliance that's been featured on The Science Channel’s “All-American Makers.”
A portfolio member of Start Garden, OXX has raised about $5 million in funding since its inception.