Bulgarian company Cupffee raises €1.8M for its edible coffee cups
Plovdiv-based foodtech startup Cupffee has raised €1.8 million through a pre-seed round from Eleven Ventures and a grant from the EIC. The company produces and commercializes edible coffee cups and stirrers, the Recursive reports.
- Founded in 2014, Cupffee is a sustainable foodtech startup creating edible and biodegradable coffee cups. Essentially, it is a vegan biscuit cup that can sustain a hot beverage for more than 12 hours. It contains 56 kcal and stay crispy for 40 min while the person enjoys a coffee.
- So far, the company has a production capacity of 2.5 million cups per month. The company also commits to green manufacturing practices that avoid pollution and industrial waste. Any unused material is remade into the edible stirrers.
- Cupffee’s fresh round consisted of a €500,000 pre-seed round led by Eleven Ventures and a €1.3 million grant from the European Innovation Council. Eleven Ventures is Sofia-based early-stage VC with over 150 SEE startups in its portfolio.
- The capital injection will help the company to move forward toward global leadership in the production of edible coffee-ware.