Akronym Pte. Ltd.
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Akronym Pte. Ltd. - overview
Established
2018
Location
Singapore, -, Singapore
Primary Industry
Internet
About
Akronym Pte. Ltd. , established in 2018 and based in Singapore, specializes in producing high-end coffee machines and related products, catering to coffee enthusiasts seeking premium at-home brewing experiences. Akronym Pte.
Ltd. is focused on the production of high-quality coffee machines and accessories. Founded in 2018 in Singapore, the company has undergone strategic pivots to enhance its product offerings. The co-founders, Aaron Lun, Bo Chiou, and Leon Foo, have experience in entrepreneurship.
As of June 2024, Akronym secured USD 13. 69 mn in Series A funding, led by East Ventures and Razer Inc. , with a total amount raised of USD 13. 69 mn and a current valuation of USD 58.
57 mn. Akronym Pte. Ltd. specializes in high-end coffee machines, capsules, and accessories.
Their flagship product, the MORNING Machine, offers advanced brewing technology for café-style beverages at home. The company also markets bundled options such as the Dream Bundle and Capsule Bundle. In addition, they provide lifestyle products and branded merchandise. Their market presence extends beyond Singapore to the international markets of Australia, the United Kingdom, and the United States, targeting both consumers and coffee shops.
In the most recent fiscal year of 2023, Akronym reported revenue of USD 1,315,753. The company generates income through direct sales of coffee machines and related products, as well as a subscription model for coffee capsules, focusing primarily on B2C transactions through their website and select retail partnerships. Their flagship machines are priced between SGD 399 and SGD 830, depending on the model and bundled offerings. In June 2024, Akronym Pte.
Ltd. raised USD 13. 69 mn in Series A funding, which will be utilized to support the launch of new products and expand into additional markets. The company is planning to introduce new coffee machine models and explore opportunities in untapped regions, enhancing their delivery of premium coffee experiences.
The recent funding will also facilitate these product expansions and market entries.
Current Investors
Razer Inc., East Ventures, zVentures
Primary Industry
Internet
Sub Industries
Household Appliances, Non-Alcoholic Beverages, Web Development
Website
www.drinkmorning.com
Verticals
E-commerce, IoT (Internet of Things), Manufacturing
Company Stage
Series A
Total Amount Raised
Subscriber access only
Akronym Pte. Ltd. - timeline of key events
Akronym Pte. Ltd. - financials
| Fiscal Year Ended | Dec 31, 2021 | Dec 31, 2022 | Dec 31, 2023 | Dec 31, 2024 |
|---|---|---|---|---|
| Revenue (USD) | 1,021,613 | - | - | - |
| % Revenue Growth (YoY) | - | - | - | - |
| EBITDA (USD) | (1,275,306) | - | - | - |
| Operating Income (USD) | (1,462,671) | - | - | - |
| Operating Margin | (143.2%) | - | - | - |
| % EBITDA Margin | (124.8%) | - | - | - |
| NET Income (USD) | (1,478,124) | - | - | - |
| % Net Margin | (144.7%) | - | - | - |
Akronym Pte. Ltd. - employee data
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