HeatGenie Has Raised $5.9 Million of a $6.7 Million Round of Funding

HeatGenie, an Austin-based startup with an innovative way to heat up beverage cans, has raised $5.9 million of a $6.7 million round of funding, according to a filing with the Securities and Exchange Commission.

The company, founded in 2007, has previously raised $3.6 million, according to CrunchBase. ARTIS Labs led the latest round of funding with participation from Almanac Investments and private investors.

HeatGenie plans to use the funding to complete product development and launch into the marketplace, according to a news release.

HeatGenie has a patented technology that allows consumers to heat drinks in a can simply by twisting the lid causing a solid-state thermal reaction and after a few minutes the beverage is hot. The company reports its technology is environmentally safe and recyclable.

“We have always had an incredibly positive response to our technology from CPG brands, many expressing early interest in embedding HeatGenie into products,” Mark Turner, HeatGenie CEO, 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.”

“As the first and only self-heating technology to meet the rigorous standards set by the industry’s biggest beverage brands, we see great potential for HeatGenie to disrupt and bolster multiple markets,” Stuart Peterson, founder of ARTIS, said in a news release. “We believe HeatGenie, its team, and platform will create new ways for all of us to enjoy instantly hot beverages, meals and more.”

HeatGenie reports its first products will be available this summer.

Walter Robb, former co-CEO of Whole Foods Market, is an investor and is on the company’s board of directors.

Heat Genie Promo from Sean Lane on Vimeo.

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