February 27 (SeeNews) - Bulgaria’s Vitosha Venture Partners said on Monday that it has invested a total of 950,000 euro ($1 million) in five local startups with a focus on innovation and revolutionary technologies.
As part of its most recent funding round, Vitosha invested 400,000 euro in Dynamic Pricing, an e-commerce software company that helps businesses manage pricing and discounts automatically, the venture capital firm said in a press release. The financing will be used for market expansion, adding new customer segments and developing new product functionalities to accelerate growth.
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Vitosha also invested 200,000 euro in Agriniser - a digital marketplace for buying and selling grain. The funding will be used to grow the company's team, improve its product and enter new markets.
The fund provided 50,000 euro to Fly the Earth. The company produces flying equipment for professional athletes, enthusiasts and air sports lovers. The fresh financing will be used for product development, production, marketing and sales.
Vitosha also invested 50,000 euro in online content marketing platform youBhappy. The funding will allow the company to expand its team and develop the platform.
Brain Foods, a vegan healthy snacks brand, received funding of 250,000 euro from Vitosha Venture Partners. The firm will use it to develop new products, reach mass production and enter new markets.
Vitosha Venture Partners is a 26 million euro venture capital fund, co-financed by the European Structural and Investment Funds under the Operational Programme for Innovation and Competitiveness 2014-2020 and managed by the Fund of Funds in Bulgaria.
($ = 0.9461 euro)