Polish startup Ecobean raises over €2.1M in seed funding

Warsaw-based ecotech startup Ecobean has secured seed funding to make the coffee industry more sustainable. The company does not reveal the exact amount of the deal, but according to COBIN Angels it is worth over €2.1 million (10 million PLN). The investors CofounderZone, EIT InnoEnergy, CIECH Ventures, and angel investors from COBIN Angels participated in the round, MamStartup reports.

• Founded in 2018, Ecobean is a tech company with a mission to help reduce coffee waste at the scale of businesses. It reuses spent coffee grounds, turning it into raw material, specialty chemicals, and other products.
• The company’s mission is to become a leader of the circular economy in coffee industry. Already, Ecobean works with market leaders like AmRest, responsible for the Starbucks brand in Central Europe.

“We are the most technologically advanced company in the sector, with a proven logistics solution to fully process coffee waste and make it into raw materials. Recent round and partnerships are a milestone in our growth as we target to operate several Gigarefineries by 2025,”

Marcin Koziorowski, CEO at Ecobean, shares the plans.

• The startup was backed by one of the largest cleantech investors EIT InnoEnergy and CofounderZone, a Polish early-stage VC fund. CIECH Ventures and angel investors from COBIN Angels, a Warsaw-based investor club, also participated.
• The fresh funds will allow the company to build its Ecobean Technology Center. It will also help to attract talent and pave the way for global expansion.