Vitosha Venture Partners invests €950k in five Bulgarian startups
27 February, 2023, 17:05
Bulgarian VC fund Vitosha Venture Partners announced it has recently closed the investment of €1 million in five local startups with a focus on innovation and revolutionary technologies. Among them are Dynamic Pricing AI, Agriniser, Fly The Earth Technologies, youBhappy, and Brain Foods.
- Vitosha Venture Partners is the Sofia-based sector agnostic €26 million VC fund that invests in early-stage and growth-stage companies that are based in or related to Bulgaria. In 2021 and 2022, Vitosha Venture Partners supported over 50 startups. One of them is QuarkXR, which develops hardware-agnostic software solutions for cloud XR applications.
- Founded in 2017, Dynamic Pricing is an e-commerce software company that provides a solution that assists businesses in efficiently managing their pricing and promotional activities. Vitosha Venture Partners provides Dynamic Pricing with €400,000. With fresh funding, it plans to expand its market reach, target new customer segments, and develop innovative product functionalities.
- The second startup that received investment is Agriniser which develops a digital marketplace, empowering grain buyers and sellers to connect and negotiate deals. The funding is €200,000 and will be used to grow the company’s team, improve its product, and enter new markets.
- Fly the Earth offers products designed to enhance the safety and satisfaction of professional athletes, air sports enthusiasts, and novices alike. With a €50,000 investment from Vitosha, Fly the Earth will develop and produce new products, invest in marketing and sales, and further expand its operations.
- Vitosha also invested €50,000 in an online content marketing platform produced by youBhappy. With the platform, users can create and launch their own challenges, sponsor and associate their brand with existing campaigns, and promote other active campaigns. youBhappy will use the fresh funding to expand the team and develop the platform.
- Launched in 2020, Brain Foods is a vegan brand that offers healthy snack products without added sugar and gluten. The company plans to spend the investment of €250,000 from Vitosha on developing new products, achieving mass production, and expanding to new markets.