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Best Practices

The successful course of an EquiFund startup, which makes coffee machines "smart" [22/1/2021]

To ensure the quality of coffee, the start-up company BibeCoffee has created an Internet of Things (IoT) real time monitoring solution for professional coffee machines, that turns every such machine into a smart connected terminal.

BibeCoffee's high-tech smart device can be installed on any professional coffee machine, regardless of   manufacturer and year of production, collecting data, leading to important findings and measurements for proper operation (commercially and technically) such as the amount of coffee consumed, the damage, but also the prevention of damage to each machine. It is important that this optimizes the process of maintenance of machines, minimizes the loss of revenue from any impurities or other incorrect practices and ensures high quality indicators of coffee, while protecting the reputation of companies.

The company's vision is to rationalize the way distributors, manufacturers and coffee chains operate, by offering them a solution that guarantees the optimal quality of coffee offered to their customers.

BibeCoffee's intelligent platform allows coffee suppliers to access data by which they can develop advanced sales and marketing strategies and become even more competitive, helping them to act directly at every point of sale.

Bibekoffee was initially funded by Unifund and then by Venture Friends Fund - both funds of the EquiFund Venture Capital Fund funded by EPAnEK (European Regional Development Fund and National Resources), the European Investment Fund (EIF), the European Investment Bank, institutional and private investors.

The investment, so far, has been mainly allocated to the continuous development of the platform as well as to the introduction of new functions and features to meet the ever-increasing needs of customers.

With important customers of the Greek and global coffee market who have already trusted the solution, BibeCoffee plans to use part of this funding to develop its team. In addition, the company aims to further expand its customer base in the Greek market and increase its footprint in the global market.