June 18 (SeeNews) - Bulgaria's Vitosha Venture Partners, a financial intermediary selected by the Fund of Funds (FoF) in Bulgaria, has supported 13 local startups with a total of 5.3 million levs ($3.2 million/2.7 million euro), the FoF said.
Almost 5.2 million levs of total financing are public funds contributed by the FoF under operational programme Innovations and Competitiveness 2014-2020, while about 160,000 levs represent an additionally attracted private capital, the FoF said in a statement on Thursday.
The startups supported by Vitosha Venture Partners are banking and accounting platform CloudTech, AI company Grid Metrics, foodtech company Trace the Taste, digital supplier of financial services FIDU Trade, electronic sports data analysis portal Tribe Esports, health technology company International Stuttering Therapy Institute, clean technology provider Ecopolytech, regulatory technology company Omnio, aeronautics company Assen Aeronautics, pet store Petmall, software services provider TokWise, energy efficiency services provider Pellet Box and food technology company HealthMe Products.
Seven of the companies supported by Vitosha Venture Partners are part of the investment intermediary's Vitosha ACCELERATE programme.
Earlier this year, Vitosha Venture Partners invested 5.1 million levs in local startups Eljoy, Hobo Bulgaria, Eirene Studio and Quendoo.
In July 2020, the FoF said it awarded a 3.6 million euro ($4.1 million) contract for setting up and managing a fund for acceleration and seed financing at stage II to Vitosha Venture Partners.
The FoF manages funding under four operational programmes. Its main activity is the structuring and management of financial instruments co-financed by the European Structural and Investment Funds during the 2014-2020 programming period.
(1 euro = 1.95583 levs)