Vitosha Venture Partners commits 1.5 million euros across 5 companies

Size of investment: 350 000

A platform for automated monitoring and management of critical risks. "The complex software systems of medium and large corporations contain thousands of vulnerabilities. That is why managing their elimination is an increasing challenge. By using Kikimora and the experienced team at SoCyber, the product's parent company, customers will be able to prioritise more effectively, as well as to monitor, assess and eliminate any vulnerabilities in their software systems," Vitosha commented on the investment.

Team Schedule

Sector: SaaS

Size of investment: 600 000

Provides large companies with ERP systems with a SaaS solution that allows managers and employees to schedule and report working hours, group shifts, breaks, etc., in accordance with the local legislation and company policies. "Hristo Sabev's team impressed us with their exceptional experience and depth of understanding in the world of ERP systems, as well as with their integrations and methodological approach to product development, with deep roots in the server design practice," Vitosha representatives explain.

ECEON

Sector: Logistics

Size of investment: 200 000

Produces several models of warehouse logistics robots that carry materials, pallets, cargo, and more around warehouse spaces using AI. "With its previous experience at the world's most advanced warehouse and retail robotics company and with its intelligent and scalable business model, the ECEON team is perfectly positioned to capitalise on the accelerating transformation of logistics processes and become one of the leaders in the sector," the fund's partners say.

Krik.bg

Sector: E-commerce

Size of investment: 140 000

Builds an e-commerce platform that brings together European suppliers and buyers of second-hand auto parts. "Reorganising an established, fundamental, and huge business like this one is a challenge that requires a high level of technological innovation and capacity, visionary thinking and well rolled-up sleeves. The Krik.bg team has proven to come up with solutions and integrations that have never been implemented before and that will lead to greater connectivity and efficiency in the European auto parts market," say Vitosha representatives.

HROS.io

Sector: HR

Size of investment: 200 000

"The company has proven itself in developed European markets with clients including the continent's largest corporations. With Vitosha's investment, we will be expanding into the South East region of Europe. We are delighted to be leading a deal alongside one of Europe's most successful funds, SpeedInvest from Vienna," says Gurvitz.

Vitosha 2.0: Mont Blanc

With plans to launch a new early-stage investment fund, Vitosha Venture Partners will likely receive capital from the FoF. The upcoming fund, which Gurvitz announced last week would be called Mont Blanc Venture Partner, will have to comply with FoF aims to diversify its focus beyond Sofia, with at least 45% of investments directed to companies outside the Bulgarian capital.

This strategy, according to partner Stoyan Nedin, not only diversifies investment opportunities but also strengthens regional ecosystems, fostering growth across various Bulgarian cities.

"Naturally, a first thought can be that such a measure, like any other that restricts geographically, sectorally, by stage of development, or otherwise, limits and alters investment opportunities and would affect a fund's ability to chase maximum returns. On the other hand, the reason why such funds exist is to strengthen certain industries, places, and types of enterprises. If there were no restrictions, perhaps these funds would be directed at German entrepreneurs instead of Bulgarian ones. Following the same logic, it makes sense that just as resources are allocated to Sofia, they should now be also reserved for regions outside of it, as they should also live through a strengthening of their ecosystem," Nedin says. "We see a lot of good entrepreneurs, but also a strong potential for development of cities like Varna, Plovdiv, Burgas, Stara Zagora, and Ruse. We are sure that there is a reason to invest further in the growth of local companies," he adds.