Bulgarian Eleven Ventures invests €1.2M in four CEE startups

Sofia-based Eleven Ventures has announced an investment of €1.2 million in four CEE startups: Perfeqt, MyTeam, True Insights, and FlatAway. Each of them receives €300,000 for 10% equity, as well as joins Eleven Alpha – a dedicated program for supporting pre-seed CEE founders, The Recursive reports.

• Eleven Ventures was founded in 2012 by Daniel Tomov, Dilyan Dimitrov, Ivaylo Simov, and Jon Bradford. It is a venture capital firm focused on pre-seed and seed investing in South Eastern Europe. Currently, the fund invests under its three-month Eleven Alpha program, providing €300,000 for 10% equity.
• The investment program targets teams at a pre-seed stage who could have only an idea and an MVP, or even a few paying clients. Fintech, healthtech, the future of work, and future of food are among the Eleven Alpha priorities. So far, the Eleven team reviewed over 450 applications from 25 countries.

Four CEE startups have cut the deal

1. Perfeqt is a healthcare startup from Slovenia. It provides at-home urine tests that help you reach your wellness goals with a personalized lifestyle plan, food recommendations, and customized supplements.
2. MyTeam, a Greek B2B SaaS ecosystem. It is a mobile app for athletes, parents & coaches of partner clubs, providing various tools to manage sports activities.
3. True Insights is a Bulgarian e-commerce tech startup. It offers a science-based tool showing the user how any eCommerce product page needs to be improved.
4. FlatAway, a Bulgarian housing startup. The company provides professionally serviced furnished apartments as a service for stays from 2 days to 5 years. Recently, FlatAway raised €500,000 in a pre-seed round led by Eleven Ventures. 

At the end of the program, the startups will get to know their customers better, understand how to provide value to them, design their business model, build a go-to-market strategy, start selling, and prepare for future fundraising.