Bulgarian-founded startup Eilla AI secures $1.5M seed round

Eilla AI, a London-based startup with Bulgarian roots which optimizes the M&A, VC, and PE deal workflow, has secured $1.5 million, according to The Recursive. The investment was led by Eleven Ventures and joined by Fuel Ventures.

• The startup was co-founded in the Bulgarian town of Veliko Tarnovo by Nikola Lazarov (CEO), Petar Petrov (CCO), Nikolay Babulkov (CTO), Filip Siderov (a software architect), and Nikolay Papazov (CFO). Eilla provides an AI platform powering the M&A, VC, and PE deal workflow. It helps to automate mundane tasks and support complex decision-making through the aggregation and analysis of large amounts of information.
• Today, Nikola, Petar, and Nikolay live together in London, from where they operate Eilla AI. The startup also has a presence in Sofia, with two of its members located there. 

“Our mission at Eilla AI is to pioneer the new era in finance by harnessing the power of Secure Generative AI to automate mundane tasks and enhance decision-making.”

Nikola Lazarov, one of the co-founders, commented.

• Sofia-based VC firm Eleven Ventures, which supports tech companies from Southeast Europe, led the current round. Earlier this autumn, Eleven Ventures led €2 million round for Greek-founded healthtech LANGaware. Fuel Ventures, an early-stage seed/growth stage EIS Fund based in London investing in technology companies, also participated in the fresh investment.
• Eilla AI will use the fresh funding to further expand its team and position itself on the markets it targets.