“Grab every opportunity, increase your network, follow your instinct”

Coffee Cloud helps suppliers understand how their espresso machines are being used, giving them precise information to ensure quality and profitability. We spoke with Miroslav Kovac, CEO of Coffee Cloud, about the developments since Demo Day in January.

Miro tell us, how has Coffee Cloud changed since Demo Day?

Soon after Demo Day we started working on increasing our traction. Through the Accelerator program we have signed LOI (Letter of Intent) with customers in 7 countries, so we have started to test the Coffee Cloud solution as well as the User Experience. We also designed and tested hardware and interface units. Now we have more than 50 paying customers. We believe that this is very good pilot traction for a new investment round. We have also received meaningful feedback from our customers for our future development through our product testing.

What are you working on now?

Now we are working on seed round fundraising and we expect to finish it within the next two months.

Of course we are constantly working on product improvement and the User Experience development. We have transferred our server to Amazon IoT solution for faster information flow and stability. Our partner at Amazon is our mentor Mike Reiner, who we connected with through the METRO Accelerator powered by Techstars program.

Right now we are targeting coffee suppliers, coffee roasters and distributors. E.g. we just signed the contract with a coffee supplier in Croatia for 1K devices (subscription) delivery over the next two years. We are also very close to signing the contract with coffee suppliers who manage 3-4K espresso coffee machines.

Can you tell us a little bit about what the METRO Accelerator powered by Techstars has given you?

Techstars is a really great network, they know all about startups. METRO on the other hand is a hospitality leader, they know a lot about hospitality and customer needs. These two components are a guarantee for success in the industry. When you add R/GA, as one of the best marketing agencies around, you just need to follow your instinct to succeed.

Through the program and great mentors we have found partners who help us to connect with worldwide customers. For example our friend and mentor Jock Gordon helped us to reach Australian and Asian markets.

So what would be your advice for the 2nd class?

Take all opportunities, increase your network, but most of all follow your instinct.

Last but not least, tell us, what are your next plans?

Our plan for the next few months is to close the seed round and expand the team, especially in management and marketing positions. Here we expect the active participation and help from future investors. We also plan to reach 2K subscription customers in the next year.