January 27 (SeeNews) - Bulgarian venture capital (VC) firm Eleven Ventures invested in Greek coffee machine solution developer BibeCoffee as part of a 2.1 million euro ($2.29 million) funding round, the Greek firm said.
The round was led by Eleven Ventures, joined by Greek funds VentureFriends and Uni.Fund as well as strategic angel investors, BibeCoffee said in a statement on social media on Thursday.
According to media reports, Eleven Ventures investment amounted to 1.2 million euro.
BibeCoffee is developing a platform which allows coffee roasters to monitor their coffee machines’ use and operations at retail sites and control the quality of the end product. This is possible via a device installed on coffee machines and a software interface. The device of the Greek startup can be fitted to all existing machine brands.
In October, Eleven Ventures invested 1 million euro in the Netherlands-based startup Almacena, which is developing a platform connecting African coffee producers with European buyers, eliminating middlemen in the trade.
Eleven Ventures has been investing in startups since 2012. It supports tech companies in four main area defined as fintech, healthcare, future of work and future of food.
($ = 0.9183 euro)