Sofia Angels Ventures has invested in BibeCoffee, a London-Athens startup specializing in IoT solutions for coffee machines, aiming to enhance coffee quality and operational efficiency in the $225 billion coffee industry.

Target Information

Sofia Angels Ventures (SAV), a €13 million venture fund located in Sofia and supported by the European Investment Fund (EIF), has announced its latest investment in BibeCoffee. This investment is further backed by InnovFin Equity, a financial initiative of the European Union under the Horizon 2020 Financial Instruments, and the European Fund for Strategic Investments (EFSI). EFSI is designed to facilitate financing for productive investments across the European Union, enhancing accessibility to funding.

BibeCoffee, a startup headquartered in London and Athens, has successfully raised €2.1 million in a post-seed funding round. The company has developed an Internet of Things (IoT)-enabled solution that transforms standard professional coffee machines or grinders into smart, interconnected devices. This innovation assists coffee chains and roasters in monitoring and improving coffee quality while streamlining maintenance processes.

Industry Overview

The global coffee industry, valued at approximately $225 billion, has traditionally focused significant investments in research and development to enhance coffee quality. However, there has been a notable gap in ensuring the consistent delivery of