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HomeCoffeeEspresso Machine IoT Startup BibeCoffee Lands $2.2 Million RoundDaily Espresso Information by...

Espresso Machine IoT Startup BibeCoffee Lands $2.2 Million RoundDaily Espresso Information by Roast Journal


Picture by way of BibeCoffee.com.

Greek espresso machine know-how startup BibeCoffee has secured a US$2.2 million funding spherical led by Bulgarian funding agency Eleven Ventures.

Based in Athens in 2018, BibeCoffee provides IoT-based monitoring software program for espresso machines and different espresso gear, with a goal consumer base of espresso retailers, espresso retail chains and occasional roasters. The corporate describes its telemetry platform as “machine-agnostic,” that means it may be retrofitted to any espresso machines for connection to the cloud.

The $2.2 million funding follows an preliminary seed spherical 15 months in the past for BibeCoffee, which was based by Vasilis Apostolopoulos, Panos Vrettos and Kostas Sigalas, three former executives on the British multinational telecommunications firm Vodafone.

The most recent funding spherical was joined by current buyers Enterprise Associates, Uni.Fund and Silcon Valley-based angel buyers.

“Progress for BibeCoffee for the upcoming years may be very promising and we’re already experiencing excessive buyer calls for,” Apostolopoulos, who serves as BibeCoffee CEO, mentioned in an announcement from the corporate. “Our deliberate espresso machines installations are to have tens of hundreds by the tip of 2023 and attain hundreds of thousands of put in machines within the upcoming years.”

espresso machine

The funding comes simply over three months since Eleven Ventures invested in one other European coffee-focused tech startup, Almacena. Eleven led a $3.4 million spherical to assist the Dutch startup construct its on-line inexperienced espresso market targeted on African coffees.

The funding additionally comes lower than a 12 months after espresso machine gear big La Marzocco first launched its personal cloud-connected IoT machines within the industrial market in the US. Two months later, La Marzocco and occasional roasting software program firm Cropster unveiled Cropster Cafe, a software program answer incorporating LM’s internet-connected industrial machines.

In the meantime, one other main espresso machine maker, Simonelli Group, has additionally launched its personal telemetry-based information assortment platform for espresso machines, referred to as TECX.

A extra direct comparability is likely to be made to Australia-based Stream, whose telemetry gadgets are designed to be retrofitted to any variety of machines. 


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