Five Sofia-based companies raised investments from the VC fund Vitosha Venture Partners. The startups are developing projects in areas such as sporting goods, food tech, agritech, marketing, and SaaS. The e-commerce software startup Dynamic pricing attracted 400,000 euros. The company will develop new functionalities in its platform. The vegan brand Brain Foods was supported with 250 thousand euros. The company plans to develop new products and expand to new markets. The digital marketplace for grain buyers and sellers Agriniser has been backed up with €200,000 to grow its team, improve the product, and enter new markets. The last two companies – Fly the Earth for professional sports goods and the content marketing platform youBhappy received an investment of 50,000 euros each.
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The German company Festo is to invest new BGN 30 million in its unit in Sofia. The funds will be used for the reconstruction and expansion of the production areas. The company will invest another BGN 20 million in new equipment. Thus, Festo will expand its electronics production capacity and start the production of new, more complex products. In Bulgaria, the company produces over 1000 items and continuously invests in expanding its activities in the country. Currently, Festo has a team of over 1,300 people and, in addition to the enterprise in Sofia, it has a unit in the city of Smolyan.
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The Sofia-based company Ampeco, which develops a cloud-based software platform for managing charging stations for electric cars, has attracted $16 million in funding. The investment comes from US-based fund BMW I Ventures, as well as from Launchub Ventures, Cavalry Ventures, and angel investors. Ampeco will expand its engineering and product solutions team and plans to open offices in North America, the United Kingdom, France, and Germany. The company has gained market positions in Europe and has taken its first steps in North America. It operates in over 40 markets with 62,000 charging points that are used by operators, energy companies, gas stations, telecoms, businesses with large electric car fleets, and more.
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The American company AI company LіvePerson announced that it is opening an office in Sofia with a plan to form a team of 130 people by the end of the year. LіvеРеrѕоn was founded in 1995 in the USA and today is a billion-dollar company with offices in Japan, Tokyo, London, and Singapore. The launch of a 24-hour product support center in Sofia is also part of the company ’s plans. LіvеРеrѕоn develops the so-called Personalized digital experience with an artificial intelligence platform that “understands” the intentions and expectations of the user. In the longer term, LіvеРеrѕоn wants to build a team of 200 people by the end of 2024.
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The Sofia-based cargo drone company Dronamics is raising capital again. A total of 40 million dollars is the new investment from business angels from 12 countries and the VC funds Founders Factory, Speedinvest, Eleven Capital, and Strategic Development Fund – the investment unit of the Tawazun Council from the United Arab Emirates. The company wants to take a step towards establishing a UAE-based joint venture to gain access to the Middle East and North African markets. Dronamics is the world’s first cargo drone airline. Their Black Swan aircraft carries up to 350 kg of cargo over a distance of up to 2,500 km, faster, cheaper, and with lower emissions than alternative modes of transport, including air transport. The company strives to meet the needs of various industries – pharmaceutical, food, e-commerce, and many others.
Source: Sofia Investment Agency