Crown funding news – Paris-based Crown Secures €2 Million in First Round Funding

It also received support from notable investors like Dr. Marcell Vollmer, former COO of SAP Ariba; Christophe Villain, Global Head of Supply Chain & Procurement Technology at Nestlé; and professional athlete Mario Götze.

Mykyta Voytenko, Founder & CEO of Crown said, “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,”.

After training over 2,500 procurement professionals who highlighted the need for modern tools, Voytenko saw a clear gap in the industry.

It explains that procurement can make up to 60% of a company's revenue, making it crucial for cutting costs and increasing profits. Negotiation, a key part of procurement, can directly affect savings and profitability. Crown’s electronic auctions make this easier by allowing buyers and suppliers to complete negotiations in just 20 minutes.

Joerg Rheinboldt, Founding Partner at Heartfelt said, “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,”.

It's first step is eAuctions, but their goal is to create a complete AI-powered tool for procurement that will change how businesses achieve efficiency, transparency, and better results in negotiations.

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Christophe Villain, Global Head of Supply Chain & Procurement Technology, at Nestlé said, “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,”.

About Crown

Mykyta Voytenko founded Crown to create a new approach to procurement technology by focusing on negotiation as the main part of the process.