HeatGenie has closed a $6 million round to advance its self-heating, reading to drink beverage packaging.
Funds will be used to complete product development and move into commercialisation, working together with ready-to-drink beverage brands to launch in the marketplace.
HeatGenie brings the consumer packaged goods market a safe, patented, self-heating innovation that integrates into packaging, allowing consumers to heat drinks on the go.
Its technology, which is environmentally safe and recyclable, simply and quickly heats beverages with a twist of the lid through a solid-state thermal reaction.
“We have always had an incredibly positive response to our technology from CPG brands, many expressing early interest in embedding HeatGenie into products,” said CEO Mark Turner, HeatGenie CEO.
“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.”
With global lifestyle demands for convenient food and drink options rising 40% within three years, the marketplace demand for self-heating food packaging across regions continues to increase, and is expected to maintain healthy growth.