Coffeeco Upcycle, a Greek company transforming coffee waste into valuable products, has closed their first €1 M Seed Round. The company raised €715,000 in this initial phase, backed by London-based VDK Capital. New international investors also participated in the round. This strategic partnership boosts confidence in Coffeeco’s ability to expand. The funding round remains open for three months, as an additional €285,000 is still available. This investment values the company at €6.6 million.
The funding allows Coffeeco Upcycle to expand operations; they plan to grow their presence across Europe and the U.S. The investment will support scaling their Auraskin product line and also advance their circular innovation approach.
Coffeeco Upcycle utilizes proprietary chemical-free extraction technology. This process recovers valuable compounds from used coffee grounds. The company extracts antioxidant-rich substances and natural fibres which are later used in minimalist skincare products. The company is also exploring experimental bioplastics applications.
Coffeeco Upcycle addresses a significant environmental issue. Up to 99% of coffee fruit is discarded after espresso production. This results in over 23 million tons of waste annually. Most of this waste ends up in landfills, generating methane. Coffeeco currently processes over 10 tons of spent coffee grounds each month. They aim to increase this to 22 tons with the new funding.
Marios Vlachogiannis, Co-founder and COO, commented on the funding’s use, noting it will primarily support expansion into key international markets; the UK and US. They also aim to collaborate with major coffee retailers and are planning product certifications and regulatory approvals. Further research and development will explore new material applications.
