Bulgarian startup Dynamic Pricing AI raises €600k in a seed round
Sofia-based retail pricing management startup Dynamic Pricing AI has raised €600,000 in its seed funding round. Local growth investors Sofia Angels Ventures (SAV) and Vitosha Venture Partners are the main investors.
- Founded in 2017, Dynamic Pricing AI is an e-commerce software company helping with pricing management. The company offers a tool that optimizes pricing strategies for retailers and brands, with a focus on Direct-to-Consumer (DTC) brands. It develops reinforcement learning models that use market signals to improve supply-demand balance and increase sales and revenue.
“We are launching an innovative AI product that explores optimal pricing policies using contextual data. People are often biased when setting up prices yet the model learns in an online fashion and constantly improves toward the objectives,”Simeon Lukov, CEO of the company, commented.
- The seed round was backed by two local growth investors Sofia Angels Ventures, a € 13 million VC fund, and Vitosha Venture Partners, a €26 million sector agnostic VC fund. Several unnamed angel investors from the USA and the UK also participated in the round.
- Vitosha Venture Partners made its first €400,000 contribution in the seed round back in February, 2023. At the time, the fund announced investments in five startups, with Dynamic Pricing AI among them.
- Now, thanks to the fresh capital, the startup will expand its team of data scientists and developers, as well as continue with its product development and customer acquisition.