Bulgarian startup Fabrico secures €680k investment
Bulgarian maintanance management startup Fabrico has announced the closing of its investment round at €680,000. The round was backed by Vitosha Venture Partners, Sofia Angels Ventures, Innovation Capital, as well as several experienced angel investors.
- Founded in 2022 by Blagovesta Pugyova, Fabrico is a cloud-based CMMS (computerized maintenance management system), which manages all the maintenance processes in a production plant by integrating end-to-end maintenance strategies in a lean way.
- The solution offers benefits to the factories that decided to integrate it, such as reduced equipment downtime, multiple orders asset organization, unplanned disruptions and breakdown reduction, extended machine lifespans, and maximized equipment reliability.
- At Fabrico, the team also leverages the platform and tailors it with upgrades specific to the client’s needs. According to the company, the system can significantly enhance the efficiency with the number of emergencies decline by a remarkable 15%.
“The digitalization of maintenance is often delayed by manufacturers because there are very few offerings of solutions which are adapted to the dynamic needs of the technicians. The adoption rate of Fabrico among technicians is 96% irrespective of the level of digitalisation, the average age of the team, or how dynamic their work day is — the more dynamic, the more savings it brings,”Blagovesta Pugyova commented in her LinkedIn.
- The funding came from Bulgarian Vitosha Venture Partners, a €26 million fund and entrepreneurship ecosystem focused in emerging Europe, Sofia Angels Ventures, a €13 million VC fund backed up by the European Investment Fund to co-invest alongside other investors, and Innovation Capital, a VC fund focused on pre-seed (€25,000 — €50,000) and іeed (up to €1,000,000) funding rounds.
- Several angel investors who have vast experience in investments, enterprise software and manufacturing also joined the round. The list includes Asen Bahtev, Milen Manev, Georgi Zahariev, Aleta Ivanova, Stamen Kotchkov, Maya Kerezieva, PhD, PMP, Mila Petrova, and others.
- Fabrico will use the funding on publicity and market expansion. The company also plans to integrate AI technology into the platform and enter international markets.