March 25 (SeeNews) - Sofia-based digital industry news outlet The Recursive said it has raised 450,000 euro ($495,300) in a seed round backed by local investment company HR Capital, which will enable it to expand its coverage in both existing and new Southeast European (SEE) markets, with Greece a short-term priority.
The Recursive raised fresh funds from a total of six investors and entrepreneurs, according to a statement published on Thursday.
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Among these are Hellen’s Rock -- the family office of Sacha Dragic, the founder of Romania's Superbet and Technsylvania, as well as angel investors Dimitris Kalavros-Gousiou, co-founder of Found.ation and Velocity Partners VC, Eleven Ventures managing partner Vassil Terziev, PubGalaxy founder Pressian Karakostov and Found.ation managing partner Filippos Zakopoulos.
The news outlet said it will also use the new capital towards boosting its coverage of the emerging digital industry in Romania and the Western Balkans. In the next six months, The Recursive plans to hire local journalists in Greece, it said.
Founded in early 2021, The Recursive now employs over ten staff in Sofia, Bucharest, Skopje and is preparing to add Athens to the list.
($ = 0.9085 euro)