What we knew about the management and utility of coffee residues aspires to be overthrown by Coffeeco Upcycle, a Startup based in the Patras Industrial Park, which turns espresso’s ships into high value added products.
The innovation that the company has introduced has not gone unnoticed by the investment community: Coffeeco has recently secured funding of 715,000 euros from international investors, as part of the first stage of Seed Round, which is in total of € 1 million.
The new investors include significant personalities from the field of innovation and responsible entrepreneurship, such as Drake G. Behrakis, Vassilis Bakolitsa and Alex Hadjipateras.
Treasure the residues of coffee
“Coffee is a fruit, rich in antioxidants and nutrients, which remain active even after consuming the beverage. The central idea of Coffeeco was based on the utilization of coffee residues that remain largely unused, ”Marios Vlachogiannis, co -founder of the company, explains to newsit.gr.
Coffeeco Upcycle was founded in 2021, in the Department of Chemical Engineering of the University of Patras, as part of a research project of Mr. Vlachogiannis and his associate, Dr. Alexis Pantziarou, with the aim of utilizing agro -industrial waste.
“When we focused on coffee residues, we found that our approach was of greater commercial value and appeal. Coffee is a favorite beverage, familiar to everyone, which facilitates the understanding of the prospect of utilizing its residues, “he adds.
The idea was gradually turned into practice, as the company developed a complete supply chain to collect and process the used coffee. The process begins with the concentration of residues from a large number of shops inside and outside Athens, which are transferred to the company’s production unit in Patras.
There, they begin to convert to cosmetic products – from sunscreen and moisturizing to the lips to cream and moisturizing creams, all with distinctive coffee aroma, and are available under the names “Auraskin” and “Haut Kos”.
Cosmetics in catering stores
In order to differentiate itself from traditional cosmetics competition, Coffeeco has chosen to dispose of its products to coffee shops, creating a completely new sales channel. “We created a new market. We sell our cosmetics where eating the drink begins – in cafes, in places that had never hosted such products. We were the first to associate the coffee experience with the sale of cosmetics in the same consumption. We want our products to become part of everyday life, such as coffee: from coffee to hand, to skincare to go, ”says Mr. Vlachogiannis.
Today, Coffeeco products are available at about 100 points of sale, with the aim of, as he says, to reach 400 by the end of summer. ” The capacity of the unit in Patras is a ton of raw material per week, delivering 50,000 – 60,000 pieces of finished products.
Strategic planning for the coming years includes expansion of sales points, enriching the product line and enhancing the company’s extroversion. “It is not enough for a good product; it must also be accompanied by an experience that inspires the consumer,” says Coffeeco’s co -founder.
Although it maintains its production in Greece, Coffeeco also has a presence abroad, with its products in London, Madrid and Egypt.