Crown's seed investment round led by Heartfelt, with Participation from Kima Ventures, Backbone Ventures, Another.vc, Apok Invest, ZAS Ventures, Prequel VC and Bpifrance, and Ukrainian VC Fund ZAS Ventures. The round also saw investments from prominent business angels, including Dr. Marcel Vollmer, former COO of SAP Ariba; Christophe Villain, Global Head of Supply Chain & Procurement Technology at Nestlé; and Mario Götze, professional athlete and business angel, as reported by EU-Startups.
Crown is a SaaS platform that "transforms procurement," enabling 6% savings and accelerating negotiations by 70%, according to the startup’s description.
“For nearly 30 years, eAuctions have been used solely to drive down prices, often in ways that lack transparency and ethics. At Crown, we see auctions not as a weapon, but as a tool—one that, when used ethically, creates win-win outcomes for buyers and suppliers. We believe auctions are the most powerful negotiation tool when their core purpose is achieving fairness, value, and mutual success,” said Mykyta Voytenko, Founder & CEO of Crown.
Voytenko founded Crown in 2024 and has over 15 years of experience in international supply chains and procurement. He led strategic initiatives at companies such as Nestlé, Engie, and Sanofi, and conducted over 300 electronic auctions for leading FMCG companies.
In under a year since its 2024 launch, Crown has reportedly surpassed traditional auction systems and reached key milestones:
- Rolled out eAuction programs with four clients, routing nearly 50% of their spending through eAuctions.
- Hosted numerous eAuctions, engaging hundreds of suppliers.
- Delivered an average savings of 9% for clients.
While eAuctions serve as Crown’s initial offering, the company’s ultimate goal is to develop a comprehensive AI-powered procurement suite, revolutionizing how businesses achieve efficiency, transparency, and results in negotiations.
