It has been nearly three years since Coffee Circle received seed funding from Tengelmann Ventures back in July 2011. Now the coffee startup has closed a seven-figure funding round with existing shareholder Tengelmann and Trivago investor Howzat Partners and the Swiss elea Foundation for Ethics in Globalization. According to Coffee Circle Cofounder and CEO Martin Elwert, the cooperation came about since both of the new investors “look for business models not exclusively based on a financial profit but also on social action.”
The fresh capital is to help “the Coffee Circle brand continue its expansion and provide a boost to enter into the food retail sector,” says Elwert. Coffee Circle was founded in late 2010 by Martin Elwert, Robert Rudnick and Moritz Waldstein-Wartenberg. In its online store, the startup offers Ethiopian coffees from sustainable sources and combines this with direct development aid in the production co-operatives on site.
Image: Coffee Circle