Reformed, a startup selling coffee and matcha blended with functional ingredients, has raised £17 million in an oversubscribed Series A led by IRIS Ventures. JamJar Investments, V3 and FoodLabs also joined the oversubscribed round. Founded in London in April 2024 by Neil Saada and Neil Marrakchi, the business sells direct to consumers on a subscription priced from £39.99 a month.
Each product is built around either specialty-grade arabica coffee or ceremonial matcha, blended with collagen or creatine alongside 21 vitamins and minerals and blends of functional mushrooms. Subscription is the principal revenue driver, with approximately 50% of revenue coming from repeat customers and around 80% of customers placing a second order by their month-two renewal. Beyond the subscription channel, the range has expanded into physical retail with placements at Selfridges.
Within 20 months of trading, the two-year-old business reported an annualised revenue run rate exceeding £50 million, and profitability arrived a few months before the funding was disclosed. Co-founder Neil Marrakchi has set a target of a £75 million run rate by the end of 2026. The global functional drinks market, the segment Reformed positions itself in, was valued at $164.68 billion in 2025 and is projected to reach $315.89 billion by 2033.
The new capital will go towards hiring, the development of new products within the coffee and matcha format, and expansion into new sales channels. Manufacturing will stay market-specific, with the United Kingdom retaining its own production unit. For the United States launch, local manufacturing partners will be used, and the founders are relocating to support that expansion.
