Vitosha Venture Partners to support another 17 companies on their startup journey

© Vitosha Venture Partners

Vitosha Venture Partners – Fund I closed the 4th consecutive round of financing with investments in 17  companies in the initial stage of development

The total value of the investments is €3.5 million (BGN 6.98 million) the majority of which are from public funds. The resources were provided by the Fund of Funds under the Operational Program “Innovation and Competitiveness” 2014-2020 and were co-financed by the European Regional Development Fund (ERDF). The additional attracted private capital amounts to nearly €105.000 (BGN 210.000).

Vitosha Venture Partners injects EUR 2.7m in second series of Bulgarian startup investments

On the path to success

Vitosha Venture Partners – Fund I closed 12 investment deals to support startups with investments between €75.000 and €700.000:

Arctic Fox Supply – Sustainable clothing brand for sports such as snowboarding, skateboarding, hiking, and running. Made from the best cotton on the market, the #StinkyFamily products last longer than any other similar product.

Voxxy – Social network based on voice messages, which connects listeners with their favorite artists and podcast hosts.

WeHugit – WeHugit connects companies, consumers, influencers, and charitable initiatives in a single social platform that offers mutual benefits and the most transparent distribution of charitable funds, using blockchain technology.

Pet Buddy – Subscription platform for pet owners, which provides medicines, healthy food, and high-end accessories at preferential prices to the customer’s door.

VGAN – High-class vegan chocolate, produced in Bulgaria and already known in the markets of the EU, USA, and Asia.

Preo Now – Pre-order platform, which provides more predictable cash flows and optimized working capital for merchants and discounts for regular buyers.

Sheetly – Trading Management Platform for small and medium web stores built with Shopify and BigCommerce.

Multispace – An online platform that connects owners of unused office space with people who are looking for a more flexible work location. The subscription service will allow employees and businesses to quickly find available office space.

Voltrax – Bulgarian company focused on the production of lithium-ion batteries for electric bicycles.

Saver Tech – Platform that helps users choose the most suitable internet and phone provider for them and save money.

AECO Space – A platform that offers a range of technologies and solutions to support the digitalization of the architectural and construction industry and the professionals in the field

Greenray – Easy and affordable provider of all services and goods related to solar roof panels – design, development, installation, and financing of roofs of homes, businesses and institutions.

Vitosha Venture Partners with €30k funding for Early-Stage startups

Vitosha Accelerate Progaram

Five of the start-up companies the fund supported with investments of between € and €50.000 are part of the Vitosha ACCELERATE program. The program aims to help participants expand their business, with experts from various fields providing assistance, mentoring, and strategic support. The 5 companies are:

DAcademySafe, effective, personalized platform for private teachers teaching students from 1st to 12th grade.

TOM Thermochromic The first liquid thermometer could be applied directly to the skin.

FoxCropThe first B2B digital food market in the Balkans, allowing free trade without an intermediary. platform for buying and selling second-hand mobile phones through an innovative model.

Monoyer Subscription service for contact lenses.

Future plans

By the end of 2023, Vitosha Venture Partners – Fund I is expected to provide support to nearly 100 startup companies at an early stage of their development. Small and medium enterprises at the stage of acceleration can receive funding from €15.000 to €50.000.

Between €15.000 and €1 million will be received by companies that are more advanced in the development of your product or prototype creation.

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