Bulgarian Eleven Ventures co-led a €3.5M seed round for agritech Almacena

The Amstelveen-based agritech startup Almacena has raised €3.5 million in a seed round to redesign enterprise coffee sourcing, Silicon Canals reports. The investment was co-led by Eleven Ventures and VentureFriends.

• Founded in 2021 by Dimo Yanchev, Almacena is a platform for next-generation coffee sourcing that promotes fair trade and enables customers to buy coffee directly from the farmers, negotiate terms, sign contracts and execute the deals digitally.
• Almacena platform links industrial buyers with origin suppliers directly. It also offers the coffee procurement teams a one-stop-shop solution to help them create and manage their own sourcing channels, digitize supply chain processes, cut team expenses, and increase pricing.
• Almacena has offices in the Netherlands, Belgium, and six East African countries. To date, Almacena’s coffee marketplace has over 160 cooperatives with 300,000 farmers onboarded. 
• The round was co-led by Sofia-based venture capital fund Eleven Ventures, that supports early-stage tech companies in fintech, healthcare, future of work and future of food, and Greek early-stage investor VentureFriends. An existing backer Acequia Capital also participated. 
• Almacena will use the fresh funding to expand further in Africa, add South American origins, and expand services to American buyers in the next 12 months.