Source: EU-Startups

Crown, the Paris-based company transforming procurement negotiations with innovative electronic auction technology, has raised €2 million in its first funding round.

This pre-Seed round was led by Heartfelt, with participation from Kima Ventures, Backbone Ventures, Another.vc, Apok Invest, ZAS Ventures, Prequel VC and Bpifrance. The round also included contributions from notable business angels such as Dr. Marcell 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.

“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.

“At Heartfelt, we seek out exceptional founders with unparalleled expertise and a bold vision for transforming their industries. Mykyta’s deep understanding of procurement, coupled with his ability to translate industry challenges into innovative solutions, is exactly what sets Crown apart. By reimagining negotiation through technology, Crown is not just optimising processes but fundamentally changing how procurement teams deliver value. We’re excited to support their mission to reshape the future of procurement,” said Joerg Rheinboldt, Founding Partner at Heartfelt.

“Embracing advanced eAuction solutions enables businesses to achieve unmatched efficiency and transparency, driving competitive bidding and significant cost savings, thereby transforming Procurement teams into a strategic advantage,” added Christophe Villain, Global Head of Supply Chain & Procurement Technology, at Nestlé.