Ember Closes $23.5M Series E to Accelerate Category Expansion and International Growth
Ember's Latest Funding is a Vote of Confidence in the Brand's Robust Patent Portfolio
LOS ANGELES, Dec. 1, 2021 /PRNewswire/ -- Today, Ember Technologies, Inc. (Ember®), the global temperature control brand and technology platform, announces a $23.5 million Series E funding round led by GOLDTek Technology, a subsidiary of Foxconn Technology Group, alongside Singapore-based global investor EDBI, and additional new and returning private investors. The Company intends to use the funds to develop new product categories under its healthcare and consumer verticals, including the disruptive new Ember Cold Chain Technology, which will transport temperature-sensitive medicines. The capital will also help to scale the brand further internationally.
"Since launching Ember five years ago, our company's mission has always been to use our expertise in precision temperature control to solve real-world problems for our customers," said Clay Alexander, Founder and Group CEO of Ember. "To date, Ember has over 129 granted patents surrounding temperature control, data, and connectivity. This additional capital will be instrumental in bringing to life technology across our vast patent portfolio in the coming years, particularly in the healthcare and infant feeding space."
Ember is a leading design and technology company that previously pioneered the world's first temperature control mug. The funds raised through this Series E financing round will support a significant scale-up in research and development activities to facilitate Ember's multi-year category expansion initiatives. This expansion includes Ember's Cold Chain Technology, which seeks to disrupt the current pharmaceutical cold chain with the world's first self-refrigerated, cloud-based shipping box. The Company also has plans to grow its consumer vertical with revolutionary technology to improve infant feeding and further releases in innovative drinkware solutions.
This investment round follows a series of major milestones for Ember. Despite unprecedented challenges from Covid-19, the Company has seen triple-digit year-over-year sales growth, with key international regions like Europe and Australia experiencing 142% and 172% year-over-year growth, respectively. Over 80% of the Series E round was made up of previous investors, indicating continued enthusiasm for the brand and the Company's strength.
Ember also recently announced the relocation and expansion of its corporate headquarters to a new office in Westlake Village, California to support its rapidly growing team, which has expanded 76% in 2021. In addition, the Company plans to establish a regional HQ and Research and Development Center located in Singapore to aid in its international growth. In 2022, Ember plans to more than double its team size between the two regions.
"Ember's upcoming RHQ and R&D center in Singapore will position the company to drive market access in Asia and fuel their international expansion," said Chu Swee Yeok, CEO and President of EDBI. "We could not be more pleased to partner with Clay and the team as they bring their precise temperature control technology into new groundbreaking applications in the consumer and medical supply chain segments."
About Ember Technologies, Inc.
Ember is a global temperature control brand and technology platform whose mission is to revolutionize the way people eat, drink and live. Founded by inventor and serial entrepreneur Clay Alexander, Ember creates, designs, and develops temperature control products that offer people complete customization. The award-winning Ember Travel Mug and Ember Mug are the most advanced coffee mugs on the market, allowing individuals to set and maintain their preferred drinking temperature for hot beverages. For more information, visit ember.com and connect with us on Facebook.com/ember, Instagram.com/ember, and Twitter.com/ember_tech.
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