The Venture Codex

Participated · Equity · Oct 2023

Founded in Barcelona in 2020 by Francesc Font, Bea Mesas and Joaquim Mach, Incapto operates a vertically integrated coffee-as-a-service model combining in-house roasting, connected hardware and a digital subscription platform. Its IoT-enabled machines send usage data back to the platform, which the company uses to optimise delivery timing, personalise selections across nine-plus origins, and automate reorders. Inventory is presold through subscriptions prior to roasting, and the service targets both households and office customers as an alternative to capsule systems. Incapto positions itself as a technology-enabled service company blending hardware, software and subscriptions, competing with both subscription coffee services (e.g., Pact Coffee, Trade Coffee, Bottomless) and premium machine makers (e.g., Nespresso, De'Longhi, Jura). The company has stated that the fresh-bean subscription model reduces capsule waste and can be more cost-effective than traditional capsule systems. Financially, the business has raised about €16 million to date, including the newly closed €10 million Series B.