BibeCoffee raised 2 million dollars funding from VentureFriends, a greek seed and series A Venture Capital fund investing in tech-enabled companies, and Uni.Fund also a greek Venture Capital Fund which supports the growth of ventures that address emerging market needs and which is the current investor.
BibeCoffee, the Athens and London-based startup, developed an IoT real time monitoring solution that transforms every professional coffee machine to a smart connected terminal.It minimizes revenue loss, ensures high quality coffee and protects company’s image.
The company’s vision is to facilitate the way distributors, manufacturers and coffee chains operate, by offering them a solution that guarantees high quality coffee is always served to the custsomers. BibeCoffee’s platform allows coffee suppliers have access to data through which they can develop advanced sales and marketing strategies and become even more competitive.
The funding that the company has received so far, has been used for the continuous development of the platform as well as for the introduction of new functions and characteristics in order to cover customers’ increasing needs.With important customers from the greek and global coffee market have already trusted its solution, BibeCoffee is planning to use part of this funding to develop its team.Also, the company aims to further expand its clientele in the greek market and grow its footprint in global markets.
“With an innovative device and an easy-to-use platform, customers have access to data and receive essential information about the coffee machines they own, wherever these machines are found.That way they can optimize their machines’ maintenance process, increase sales and ensure high quality coffee rates.VentureFriends’ investment with the constant support from Uni.fund and follow-on investment, contribute to the development of our solution and our expansion to new markets alongside our objective to transform coffee market.”, stated the founders of BibeCoffee.
“ We are happy to support an innovative idea that aims at a global market and allows data collection regarding coffee consumption and the use of the machine .Data that is particularly useful for distributors, manufacturers and coffee owners that give them a holistic image.BibeCoffee’s team consists of very competent people and we are very happy for our cooperation.”, said George Dimopoulos, co-founder of VentureFriends.
“BibeCoffee has been in our portfolio for the last two years and the progress on business level is impressive.The company provides an innovative technological solution to a specific global market, constantly bringing new customers and expanding its operation in new countries nad markets.We are happy to support teams like this and watch them grow.”, noted Stelios Eliakis, co-founder of Uni.Fund.