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Bulgaria's Impulse Growth invests 400,000 euro in Tiger Technology

Jun 24, 2024, 4:55:12 PMArticle by Mihaela Miteva
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June 24 (SeeNews) - Bulgarian investment firm ImPulse Growth [BUL:IMP] said on Monday that its ImVenture III fund has invested 400,000 euro ($427,522) in local file data services company Tiger Technology as part of a nearly 2 million euro funding round, which also included angel investors.

Bulgaria's Impulse Growth invests 400,000 euro in Tiger Technology
Image source: Tiger Technology

The financial injection was made in the form of a convertible loan, ImPulse Growth said in a bourse filing.

The funds will be used to support Tiger Technology's research and development activities and attract new clients for its Series A financing round.

Tiger Technology specialises in data management and storage solutions, optimising data storage infrastructures in the media and entertainment industry, video surveillance, healthcare and corporate IT. The company's solutions enable scalable local, hybrid and cloud workflows, enhancing data protection, business process continuity and cost efficiency.

The ImVenture III fund, in which Impulse Growth holds a direct stake of 8.25%, was founded in 2024 and is managed by Impulse's parent company, Impetus Capital. The fund invests in Bulgarian, Romanian, Greek and foreign small and medium-sized enterprises and companies with medium capitalisation, linked to the region and the diaspora.

As of 1547 CEST on Monday, shares in ImPulse Growth traded flat at 1.56 levs ($0.85/0.80 euro) on the BEAM growth market of the Bulgarian Stock Exchange.

($ = 0.9356 euro)

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