Multiferroic materials are materials that present simultaneous magnetic and ferroelectric ordering. They have attracted much attention in the last years due to their potential technological applications. We explored novel promising multiferroic materials crystallizing in acentric space groups and we discovered a new family of spinel-like compounds of general formula A2B4O8, and compositions Co2Co3TeO8, (ZnCo)Co3TeO8 and Zn2Co3TeO8. The materials are novel polar and magnetic spinels, with the crystal structure of LiFe4O8 (cubic symmetry with the acentric space group P4332) due to 3:1 ordering between Co and Te cations in the octahedral sublattice. The magnetic properties show magnetic-ordering temperatures around 30 K for Co2Co3TeO8 and 25 K Zn2Co3TeO8. Preliminary NPD data collected in test time for Co5TeO8 show the appearance of magnetic satellites, characteristic of a complex incommensurate structure.