Bulgarian startup FoodObox raises €310k to expand operations locally

The Sofia-based foodtech startup FoodObox has raised a total of €310,000 investment from Bulgarian venture capital fund Innovation Capital and angel investors. 

• Launched in 2021 by Jane Dimitrova and Velin Kerkov, FoodObox develops the first mobile app in Bulgaria, that allows bakeries, pastry shops, restaurants, and supermarkets to offer products nearing expiry with a discount of at least 40%.
• The main goal of FoodObox is to reduce food waste, and at the same time reduce the socio-economic damage to food waste, and help the planet. The startup’s application has already attracted about 380 businesses in Bulgaria and acquired over 30,000 users. 
• The Sofia-based VC fund Innovation Capital invests €150,000. The fund focuses on Bulgarian startup companies operating in enterprise software, e-commerce, fintech, edtech, financial services, healthcare, foodtech, security verticals.
• The rest of the amount — €160,000 came from nine angel investors.
• FoodObox will spend the fresh funds to expand its operations in Bulgaria. The startup will invest in technology improvement, marketing and staff expansion.